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American Airlines Group (AAL) William Douglas Parker on Q1 2016 Results - Earnings Call Transcript

Q1 2016 Earnings Call

April 22, 2016 8:30 am ET


Daniel E. Cravens - Managing Director-Investor Relations

William Douglas Parker - Chairman & Chief Executive Officer

Derek J. Kerr - Chief Financial Officer & Executive Vice President

J. Scott Kirby - President

Stephen L. Johnson - EVP-Corporate Affairs & Assistant Secretary

Robert D. Isom - Chief Operating Officer & Executive Vice President


Joseph DeNardi - Stifel, Nicolaus & Co., Inc.

J. Yates - Credit Suisse Securities (NYSE:USA) LLC (Broker)

Jamie N. Baker - JPMorgan Securities LLC

Rajeev Lalwani - Morgan Stanley & Co. LLC

Hunter K. Keay - Wolfe Research LLC

Duane Pfennigwerth - Evercore ISI

Helane Becker - Cowen and Company, LLC

Darryl Genovesi - UBS Securities LLC

Savanthi N. Syth - Raymond James & Associates, Inc.

Michael Linenberg - Deutsche Bank Securities, Inc.

Andrea Ahles - Fort Worth Star-Telegram

Susan Carey - The Wall Street Journal, Inc.

Mary Schlangenstein - Bloomberg News

David Koenig - The Associated Press

Jeffrey Dastin - Thomson Reuters Corp.

Edward Russell - Flightglobal

Ted Reed - TheStreet, Inc.


Please, stand by, we're about to begin. Good morning, and welcome to the American Airlines Group First Quarter 2016 Conference Call. Today's conference is being recorded. At this time, all lines are in a listen-only mode, and following the presentation, we will conduct a question-and-answer session. We ask that you limit yourself to one question and one follow-up question.

And now, I would like to turn the conference over to your moderator, Managing Director of Investor Relations, Mr. Dan Cravens.

Daniel E. Cravens - Managing Director-Investor Relations

Good morning, everyone, and welcome to the American Airlines Group first quarter 2016 earnings conference call. Joining us on the call today is Doug Parker, our Chairman and CEO; Scott Kirby, our President; Derek Kerr, our Chief Financial Officer. Also in the room for the question-and-answer session is Robert Isom, the Chief Operating Officer; Elise Eberwein, our EVP of People and Communications; Bev Goulet, Chief Integration Officer; Maya Leibman, Chief Information Officer; and Steve Johnson, our EVP of Corporate Affairs.

As is our normal practice, we're going to start the call today with Doug and he will provide an overview of our first quarter 2016 financial results. Derek will then walk us through the details on the quarter and provide some additional information on our guidance for the remainder of the year. Scott will then follow with commentary on the revenue environment and our operational performance. And then after we hear from those comments, we will open the call for analyst questions and lastly, questions from the media.

Before we begin, we must state that today's call does contain forward-looking statements, including statements concerning future revenues and costs, forecasts and capacity, traffic and load factor, fleet plans and fuel prices. These statements represent our predictions and expectations as to future events, but numerous risks and uncertainties could cause actual results to differ from those projected. Information about some of these risks and uncertainties can be found in our earnings press release issued this morning and our Form 10-Q for the quarter ended March 31, 2016.

In addition, we will be discussing certain non-GAAP financial measures this morning, such as net profit and CASM excluding unusual items. A reconciliation of those numbers to the GAAP financial measures is included in the earnings release and that can be found on our website at A webcast of this call will also be archived on our website and the information that we're giving you on the call is as of today's date and we undertake no obligation to update the information subsequently.