Running comments from the American Airlines press conference:
- Today is a transformational day for American.
- American’s order presentation, 19 page PDF: AMR Aircraft
- With this plan we are jumping to the front of the line and will be ahead of our peers.
- We will have the youngest fleet of our peers.
- We will lower our costs with this modern fleet.
- With six variants in two families, American will have great fleet flexibility.
- Increasing fuel efficiency 35% over MD80s, plus lower maintenance and operating economics.
- As we replace fleet, plan gives us flexibility to replace 757s and 767-200s with US trans-con capability of A320 and 737 families.
- Can fly 737-700 and A319neo at small end, thin markets, replacing CRJs. More service, better service for customers.
- $13bn in lease financing provided by partners for first five years. Maximizes fleet flexibility and reduces risk.
- $3.3m NPV savings per aircraft.
- Manufacturers were so keen to do these deals they brought forward $13bn in financing. There’s not much not to like about this deal.
- These are operating leases with minimal or no capital expenditures (that would have been required for a purchase).
Separately, American was advised by SkyWorks Capital.