The executive moves we are announcing today will strengthen American for the long-term future and reflect well on the depth of the Company's management team.

At American Airlines, we have built a business around the love of travel that has lasted three quarters of a century. And I'm pretty sure we're just getting started.

The executive moves we are announcing today will strengthen American for the long-term future and reflect well on the depth of the Company's management team.

We need to take excellent care of our customers, and do so at a profit.

But I don't think the popularity of flying has diminished a bit.

However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.

I think in just about any business the low cost competitor is always going to have an advantage.