american airlines 2004
TRANSCRIPT
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Amy Kakuk, Beth Theriault, and
Jessica BourgoinAll images from www.aa.com
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Agenda
Company History
A Little More About Us
Our Planes
Where We Fly
Vision Statement Mission Statement
Company Ratios
External Analysis
Opportunities
Threats CPM
EFE
Internal Analysis
Strengths
Weaknesses
IFE
Matrix Analysis SWOT Analysis
Space
IE matrix
Grand Strategy
QSPM Recommended Strategies
Future Plans
AMR in the News
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AMR Timeline
Started in New York City in 1929under the name AviationCorporation. It was founded bySherman Fairchild.
1930, renamed American Airwaysafter combining 85 small airlines.
1934, airmail was suspended
causing difficulty and the causefor new ideas. Renamed to its current American
Airlines and the first plane to payoff itself without the need forpostal revenues was built.
1964, AMR introduced the firstcomputerized airline ticket
reservation system (SABRE) 1980, new CEO Bob Crandall
introduces frequent fliersprogram.
1982, Purchase of domesticairline.
1987, Nashville Eagle wasrenamed American Eagle.
1989, Donald Trump wasprevented from purchasingAmerican Airlines and new routesto Japan, Latin America, andLondon were bought.
1996, 20% of SABRE was soldand a code-sharing agreementwas made with British Airways.
1999, One world (alliance ofmajor airlines around the world)was formed because ofagreement with British Airways.
2000, AMR sold its shares of
Canadian Airlines along with theremaining of SABRE.
2001, AMR bought the assets ofthe failed TWA for $743m.
2003, AMR was on the brink ofbankruptcy after losing $1.3B
Text Book: Strategic Management Author: Fred R. David
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Location
AMR Corporation4333 Amon Carter Boulevard
Fort Worth, TX 76155Phone: 1-817-963-1234
Fax: 1-817-967-9641Sector Name: Transportation
Industry Name: Airline
Employees: 92,100Market Cap (Mil) $ : 1,724.425Complete Financials: Dec 2004
Updated: 03/31/2005
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Stock Quote (AMR - NYSE)
Price $10.45
Change 0.25
Volume 3,486,700
Trades 2,773
Day Low 10.33
Day High 10.89
52 Week Low 6.34
52 Week High 14.50
As of 4:02 PM ET on April 1, 2005
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Vision Statement (proposed)
To become the largest airline inthe world.
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Mission Statement (proposed)
AMR Corporation is committed to providingevery citizen of the world with the highestquality air travel to the widest selection ofdestinations possible. AMR will continue tomodernize its fleet while maintaining itsposition as the largest air carrier in theworld, with a goal of becoming the mostprofitable airline. AMR is the airline thattreats everyone with equal care and respect,which is reflected in the way each AMRemployee is respected. AMR recognizes that
its employees are the key to the airlinessuccess and invests in the futures and livesof its employees. By investing intomorrows technologies and by following astrict adherence towards environmentalregulations, AMR demonstrates itscommitment to the world environment.
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Customer Service Plan
American Airlines and AmericanEagle are in business to provide safe,dependable, and friendly air
transportation to our customers,along with numerous relatedservices. We are dedicated to making
every flight you take with ussomething special. Your safety,comfort, and convenience are our
most important concerns. www.AA.com
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See Our New Campaign, WeKnow Why You Fly.
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Our Planes
Airbus A300-600
Boeing MD-80(S80) Boeing 737-800
Boeing 757
Boeing 767
Boeing 777
www.AA.com
https://www.aa.com/content/aboutUs/ourPlanes/AirbusA300.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeingMD80.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing737800.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing757.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing767.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing777.jhtmlhttp://www.aa.com/content/aboutUs/pressGuide/americanAirlines.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing777.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing767.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing757.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing737800.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing737800.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeing737800.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeingMD80.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeingMD80.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/boeingMD80.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/AirbusA300.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/AirbusA300.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/AirbusA300.jhtml -
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Our Planes
ATR 72 - Super ATR
Bombardier CRJ-700
ERJ-145
ERJ-140 ERJ-135
SAAB 340B
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https://www.aa.com/content/aboutUs/ourPlanes/ATR72.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/crj700.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ145.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ140.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ135.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/sAAB340B.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/sAAB340B.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ135.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ135.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ135.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ140.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ140.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ140.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ145.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ145.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/eRJ145.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/crj700.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/crj700.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/crj700.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/ATR72.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/ATR72.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/ATR72.jhtmlhttps://www.aa.com/content/aboutUs/ourPlanes/ATR72.jhtml -
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AirbusA300-600
Seats: 267
Lavatories: 7
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Boeing MD-80 (S80)
Seats: 131Lavatories: 3
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Boeing 777 (777)
Seats: 245Lavatories: 9
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Where we fly
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USA (North & South West)
All Maps from www.AA.com
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USA (North & South Central)
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USA (North & South East)
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Canada
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Mexico
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Asia
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Australia& New Zealand
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Central America
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Caribbean
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Africa
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Middle East
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South America
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Eurasia
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Company Worth AnalysisYear ending 2001,2002,2003 average
Stockholders equity 2,125,000,000
Net Income X 5 (10,835,000,000)
(Share price/EPS) X Net Income (2,436,937,716)
Number of Shares Outstanding X Share Price 2,015,000,000
Method Average2,282,984,429
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Key Company RatiosCompany Industry Sector S&P 500
Valuation Ratios
Beta 2.77 1.38 0.62 1.00Price to Sales (TTM) 0.10 1.24 1.62 3.33
Price to Cash Flow (TTM) 11.86 10.03 13.19 17.32
% Owned Institutions 95.00 70.90 59.87 64.19
Growth Rates %
Sales (MRQ) vs Qtr 1 Yr Ago 3.93 12.97 9.04 13.40Sales (TTM) vs TTM 1 Yr Ago 0.12 12.79 8.27 11.90
Sales - 5 Yr Growth Rate -0.09 8.39 6.94 9.30EPS (MRQ) vs Qtr 1 Yr Ago N/A 48.32 -4.57 28.69
EPS (TTM) vs TTM 1 Yr Ago NA 70.64 1.92 21.92
EPS - 5 Yr Growth Rate NM -2.27 6.80 12.15
Capital Spending - 5 Yr Growth Rate -21.91 5.49 0.82 4.06
Financial Strength
Quick Ratio (MRQ) 0.52 1.20 1.18 1.26Current Ratio (MRQ) 0.71 1.43 1.42 1.76LT Debt to Equity (MRQ) 285.35 1.09 0.51 0.68Total Debt to Equity (MRQ) 302.83 1.19 0.59 0.85Interest Coverage (TTM) -1.20 4.86 19.24 11.86
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Key Company Ratios (cont.)Profitability Ratios % Company Industry Sector S&P 500
Gross Margin (TTM) 17.26 26.52 33.15 47.32Operating Margin (TTM) -4.84 6.88 11.72 20.33Pre-Tax Margin (TTM) -7.50 8.34 10.24 17.27
Net Profit Margin (TTM) -7.04 5.27 6.77 13.12
Management Effectiveness %
Return on Assets (TTM) -4.15 4.71 6.66 6.40Return on Investment (TTM) -5.45 6.51 8.59 9.97Return on Investment - 5 Yr Avg -3.16 6.11 8.51 10.93Return on Equity - 5 Yr Avg -66.33 2.78 14.38 19.22Efficiency
Revenue/Employee (TTM) 180,913 191,714 198,139 622,866Receivable Turnover (TTM) 17.23 35.21 14.58 9.76
Inventory Turnover (TTM) 25.36 42.78 39.40 10.46
Asset Turnover (TTM 0.59 0.83 1.10 0.92
www.investor.stockpoint.com
March 2004
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External Audit
Opportunities Favorable wage negotiation climate Travel increasing in general Low interest rates Government backed loans
Information technology New fuel efficient engines Partnerships with Asian Airlines
Threats Increased air travel inconvenience (security related) Business travel declining
Increased competition from point-to-point competitors Availability of pricing information Overcapacity in industry
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EFE MatrixKey External Factors Weight Rating Weighted Score
Opportunities
1. Favorable Wage Negotiation Climate 0.15 4 0.60
2.Travel Increasing 0.05 2 0.10
3 Low Interest Rates 0.05 3 0.15
4. Government Backed Loans 0.05 4 0.20
5. Information Technology 0.05 3 0.15
6. New Fuel Efficient Engines 0.05 3 0.15
7. Partnership with Asian Airlines 0.10 3 0.30
Threats
1. Security inconvenience with Increased airtravel 0.05 2 0.10
2. Business Travel is Declining 0.10 3 0.30
3. Increased Competition with Competitors0.15 3 0.45
4. Availability of Pricing Information 0.10 3 0.30
5. Overcapacity of Industry 0.10 2 0.20
Total 1.00 3.00
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CPMAmerican Airlines Delta Southwest
Critical Success
Factors
Weight Rating WeightedScore
Rating WeightedScore
Rating WeightedScore
Advertising
Product Quality
Price
Competitiveness
Management
Financial Position
Customer Loyalty
Global Expansion
Market Share
Reward Programs
Security
.15
.11
.14
.09
.14
.08
.06
.05
.05
.13
2
4
2
3
1
2
3
3
2
3
0.30
0.44
0.28
0.27
0.14
0.16
0.18
0.15
0.10
0.39
4
4
2
3
2
3
4
3
4
3
0.60
0.44
0.28
0.27
0.28
0.24
0.24
0.15
0.20
0.39
3
3
4
4
4
3
1
2
2
3
0.45
0.33
0.56
0.36
0.56
0.24
0.06
0.10
0.10
0.39
Total 1.00 2.41 3.52 3.15
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Internal Audit
Strengths
Size of fleetNumber of routes
PartnershipsIT infrastructureGovernment relations
Weaknesses
Financial positionCost structure
Unprofitable routesToo many divisions
Reliance of business fares
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IFE MatrixKey Internal Factors Weight Rating Weighted
Score
Strengths
1. Size of fleet 0.10 4 0.40
2. Number of routes 0.10 4 0.40
3. Partnerships 0.15 4 0.60
4. IT infrastructure 0.10 3 0.305. Government relations 0.05 4 0.20
Weaknesses
1. Financial position 0.05 1 0.05
2. Cost structure 0.15 2 0.30
3. Unprofitable routes 0.15 2 0.30
4. Too many divisions 0.05 1 0.05
5. Reliance of business fares 0.10 2 0.20
TOTAL 1.00 2.80
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SWOT Matrix
S-O
Develop new partnerships in Asiautilizing the number of routes as akey negotiating point.
S-T
Use IT to reduce the check-in andwait times on flights. Such as morecurb side check-ins and e-tickets.
Use market position by reducingnumber of unprofitable flights and
reducing industry capacity.
W-O
Sell unprofitable/smaller divisions toimprove financial positions.
Negotiate lower wage rates withunions to improve cost structure.
W-T
Use a mixed model. Someoperations point-to-point to improvecost structure and reduce customerinconvenience.
Eliminate unprofitable routes toimprove financial position andreduce industry capacity.
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SPACE Matrix
Conservative FS Aggressive
CA IS
Defensive ES Competitive
Y axis*Financial strength 1*Environmentalstability -5Y axis: 1 + (-5) = -3
X axis
*Industry strength 2*Competitiveadvantage -5X axis: 2 + (-5) = -3
1.Retrenchmnet2.Diversification3.Divestiture4.Liquidation
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The Internal-External (IE) Matrix
1.0 to 1.99
IXVIIIVIILow
2.0 to 2.99The EFE TotalWeighted Score
VIVIVMedium
American Airlines3.0 to 3.99
IIIIIIHigh
1.0 to 1.992.0 to 2.993.0 to 4.0
WeakAverageStrong
The IFE Total Weighted Score
Market PenetrationMarket DevelopmentProduct Development
Grand Strategy Matrix
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Grand Strategy MatrixRAPID
MARKET
GROWTH
WEAK Quadrant II Quadrant I STRONG
COMPETITIVE COMPETITIVE
POSITION POSITION
American
Airlines
Quadrant III Quadrant IV
SLOW MARKET
GROWTH
1.Retrenchmnet2.Diversification3.Divestiture4.Liquidation
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QSPM (Internal Factors)
Strategic Alternatives
Key Internal Factors Weight InternationalExpansion
Domestic
Expansion
Strengths AS TAS AS TAS
1. Size of fleet 0.10 --- --- --- ---
2. Number of routes 0.10 4 0.18 1 0.12
3. Partnerships 0.15 1 --- 2 ---
4. IT infrastructure 0.10 --- 0.20 --- 0.20
5. Government relations 0.05 --- 0.24 --- 0.18
Weaknesses
1. Financial position 0.05 1 0.28 3 0.07
2. Cost structure 0.15 4 0.12 3 0.18
3. Unprofitable routes 0.15 1 0.08 4 0.12
4. Too many divisions 0.05 --- --- --- ---
5. Reliance of business fares 0.10 --- --- --- ---
SUBTOTAL 1.00 1.35 1.60
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QSPM (External Factors)Key External Factors
Weight
International
ExpansionDomestic
Expansion
Opportunities AS TAS AS TAS
1. Favorable wage negotiation climate .15 --- 0.24 --- 0.24
2. Travel increasing in general .05 4 --- 1 ---
3. Low interest rates .05 4 --- 1 ---
4. Government backed loans .05 3 --- 1 ---
5. Information Technology .05 1 --- 4 ---6. New fuel efficient engines .05 4 0.05 1 0.15
7. Partnerships with Asian Airlines .10 --- 0.06 --- 0.03
Threats
1. Increased air travel inconvenience (security
related).05 --- 0.20 --- 0.15
2. Business travel declining .10 --- 0.16 --- 0.08
3. Increased competition from point-to-point
competitors.15 3 0.08 4 0.08
4. Availability of pricing information .10 3 --- 3 ---
5. Overcapacity in industry .10 1 --- 4 ---
SUBTOTAL 1.00 1.65 1.70SUM TOTAL ATTRACTIVENESS SCORE 3.00 3.30
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Strategies Summary
Alternative Strategies IE SPACE GRAND COUNT Forward Integration - Backward Integration - Horizontal Integration - Market Penetration X 1
Market Development X 1 Product Development X 1 Concentric Diversification X X 2 Conglomerate Diversification X 1 Horizontal Diversification X 1
Joint Venture - Retrenchment X X 2 Divestiture X X 2 Liquidation X X 2
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??Which Strategies??
Concentric Diversification which is the addition of new butrelated product, may be something that AMR would want tolook into. They could add something to attract newcustomers too their company.
Another option they could look into in Retrenchment. Thisis the regrouping by reducing costs and assets. (Thisoption is already being explored).
AMR may also want to think about Divestiture, selling itsAmerican Eagle division.
If these strategies do not work, AMRs last option isLiquidation. With the financial trouble that AMR has beenhaving, this may be the only way.
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Future PlansAMR plans to raise their profitability in the future.
This is a much needed event in order for thecompany to stay in business. In order to boosttheir profitability, AMR is currently in the processof doing some restructuring. This restructuring
includes: Reducing Number of flights from the Dallas/Fort Worthand the OHare Hubs.
In 2003, 27,000 employees were laid off and more willbe needed to keep the company alive.
Retiring older aircrafts that are too expensive to keeprunning.
AMR also needs to start getting rid of some of its leastprofitable routes, this will simplify their program andeliminate the spending of money to fly on them.
Text Book: Strategic Management Author: Fred R. David
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News Releases
March 30 | American Airlines Cargo Division Announces Increasein Fuel Surcharge
March 29 | American Airlines to Resume Seasonal Nonstop ServiceFrom New York to Rome on April 3
March 28 | Sizzlin' Summer Travel Deals - Get 'Em While They're
Hot
March 28 | New Online Program Lets American AirlinesAAdvantage Members Redeem Miles for Hotel Stays and More
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