American Airlines and its merger partner, US Airways, filed separate 10-K documents with the Securities and Exchange Commission on Wednesday afternoon.
After skimming through the 100-plus-page filings, there are a few tidbits to note:
-40 percent of AMR's operating revenues in the past three years were from foreign operations (i.e. routes to international cities)
-Wages, salaries and benefits were about 28 percent of AMR's operating expenses in 2012 while fuel was 35.2 percent of the operating expenses. The carrier ended the year with 77,750 full-time equivalent employees. At US Airways, employee costs were about 22 percent of its operating expenses while fuel was 35.6 percent.
-And although it was in documents filed last week, the filing notes that American will have to pay US Airways $135 million termination fee if it gets a "superior proposal" and a $195 million termination fee if there is a deliberate breach of the agreement by AMR. US Airways would have to pay American a termination fee of $55 million for a "superior proposal" and $195 million termination if US Airways breaches the agreement.
-So far, $290 billion claims have been filed against AMR during bankruptcy with the court disallowing $100.2 billion of those claims. The remaining claims have not yet been ruled on.
Andrea, have you seen any court filings for breaking the lease at Alliance AFW?
Posted by: Tim | February 20, 2013 at 08:22 PM
Tim, to date, AMR hasn't filed anything with the bankruptcy court to terminate its lease at Alliance AFW. And I have been looking!
Posted by: Andrea Ahles | February 22, 2013 at 08:11 AM