Gerard Arpey Chairman and CEO Safe Harbor Please note that many statements will constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which constitute the Company's expectations or beliefs concerning future events. These matters are subject to a number of factors that could cause actual results to differ from our expectations. These factors include, but are not limited to, domestic and international economic conditions; fuel prices; general competitive factors including, but, not limited to, government regulations and regulatory approvals; uncertainty in domestic or international operations; potential industry consolidation and alliance changes; outbreaks of a disease (such as the H1N1 virus, SARS or avian flu) that affects travel behavior; acts of war or terrorism; our ability to access the capital markets; and changes in the Company's business strategy, any of which could affect our actual results. Additional information concerning these and other factors is contained in our Securities and Exchange Commission filings, including but not limited to our quarterly report on Form 10-Q for the quarter ended March 31, 2010 and our annual report on Form 10-K for the year ended December 31, 2009. Industry Return on Equity 40 Net Income 30 Shareholders Equity $ Billions 20 10 0 (10) (20) (30) (40) ROE: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 11% (50%) NM NM NM NM NM 19% NM NM Source: Company Filings. Includes AA, DL, NW, CO, UA, US, WN. NM = not meaningful Industry Capacity % Change in Domestic Capacity vs. 2005 (ASMs) 5% 0.4% 0% (5%) (1.4%) (3.8%) (10%) (10.0%) (9.7%) 2009 2010e (15%) 2006 Includes network, regional, and LCC capacity 2007 2008 Our Cornerstones ORD LAX NYC DFW MIA Our Cornerstones U.S. Metropolitan Area Population (Millions) New York 19.0 Los Angeles 12.9 Chicago 9.6 Dallas – Fort Worth 6.3 5.8 5.7 Philadelphia Houston Miami 5.4 5.4 5.4 Atlanta Washington Source: US Census Bureau 4.5 Boston oneworld • 800 Airports • Nearly 150 Countries • 9,000 Daily Departures • 550 Airport Lounges • 340M Passengers/Year • 2,500 Aircraft London Largest 15 Premium Airports (Premium Passengers / Day) 4,000 3,000 2,000 1,000 - 2009 CRS booking data, adjusted to carrier reported traffic oneworld Tokyo Network Tokyo Haneda oneworld Hubs Largest 15 Premium Airports (Premium Passengers / Day) 4,000 3,000 2,000 1,000 - 2009 CRS booking data, adjusted to carrier reported traffic. Premium Seats Share of Premium Capacity (Seats) oneworld 17% 16% 21% 20% SkyTeam 4% 19% Star Unaffiliated 10% 26% 34% 32% 24% 18% 15% 5% 13% 60% 38% JFK 35% LHR Sources: OAG Summer 2010 Schedule and Seatguru.com LAX 42% NRT 50% HKG Strengthening Our Network • Cornerstone Strategy – NYC, LAX, ORD, DFW, MIA • Joint Business Agreements & Antitrust Immunity – British Airways / Iberia – Japan Airlines • Building Alliances & Partnerships – oneworld – New partnerships $500+ Million Yr/Yr Unit Revenue Growth 10% 5% 0% (5%) (10%) AA (15%) Industry (Ex. AA) 1/ (20%) 2Q08 3Q08 4Q08 1Q09 2Q09 1/ Industry is defined as AA, CO, CL, UA and US. Data is Consolidated PRASM. 2/ UA PRASM includes baggage, ticketing and change fees 3Q09 4Q09 1Q10 Q1 Mainline Absolute Unit Revenue 10.5 ¢ 10.4 ¢ 10.2 ¢ 10.0 ¢ 9.9 ¢ 9.9 ¢ 9.8 ¢ UA 2/ CO DL 9.5 ¢ 9.0 ¢ 8.5 ¢ 8.0 ¢ 7.5 ¢ AA US 1/ Source: SEC Filings. Mainline 1Q10 PRASM. 2/ UA PRASM as reported for Q1 is 10.75 ¢. Adjusted for $52 MM FFP benefit and approx. $230 MM of ancillary revenue 2Q10 Entity Mix Impact April/May Yr/Yr PRASM Growth 40% 30% AMR Over-weighted 40% 30% 20% 20% 10% 10% 0% 0% -10% -10% -20% Central/ South America Domestic Caribbean -20% AMR Under-weighted Asia Outside Japan Europe Regional 1/ Source: OAG 2010 capacity schedule 2/ Over/under weighted classification determined by AA entity weight relative to OA Your Choice Growing Ancillary Revenue 2.5 2.2 2.0 1.9 2.0 2006 2007 2.3 $ Billions 1.7 1.5 1.5 1.0 0.5 0.0 2004 2005 2008 2009 Cost Control Full Year Unit Cost (Excluding Labor / Fuel) 1 Rank 2003 2004 2005 2006 2007 2008 2009 1 DL DL AA AA AA AA AA 2 AA AA DL DL DL DL DL 3 US UA US US US UA UA 4 CO US CO NW NW US US 5 UA CO UA UA UA CO CO 6 NW NW NW CO CO 1. Unit costs defined as stage length adjusted operating costs excluding special items, fuel and salaries, wages benefits. Industry Labor Contracts Contract Amendable Year AA DL/NW UA CO US WN FL Pilots 2008 2012 2009 2008 2009 2011 2005 Flight Attendants 2008 2011 2010 2009 2011 2012 2008 Mechanics 2008 2009 2008 2011 2012 2013 Fleet Service Clerks 2008 Agents 2010 2009 2011 2011 2010 2009 2012 2012 40