TWA Aviators
Members Would Receive Full Credit for Unused Mileage Balances And Enjoy
Full Range of Benefits of World’s Leading Travel Awards Program
American Airlines Inc. announced today that, as part of a bid submitted
yesterday to the U.S. Bankruptcy Court in the District of Delaware, it
plans to offer all Trans World Airlines Inc. (AMEX: TWA) Aviators
members membership in the American Airlines AAdvantage program. Under
the proposal, if American is the successful bidder for TWA, it is
anticipated that TWA would give Aviators members six months notice
before ending the Aviators program. Aviators members would then receive
full credit for unused mileage balances in their Aviators portfolio when
the Aviators program ends.
Mike Gunn, American’s Executive Vice President – Marketing Planning,
said, “We are looking forward to welcoming Aviators members to the
American Airlines AAdvantage program, the world's largest travel awards
program. Our proposed plan would allow Aviators members to benefit from
greater opportunities to earn and redeem miles on American Airlines and
any of the more than 90 airline, hotel, car rental and other travel
service participants."
On February 1, 2001, American Airlines and TWA agreed to give AAdvantage
members and Aviators members who open new AAdvantage accounts the
opportunity to earn AAdvantage miles on all TWA and Trans World Express
(TWE) flights and Trans World Connection flights operated by American
Eagle. Effective March 15, 2001, AAdvantage members will be able to
redeem AAdvantage miles for awards on TWA and TWE flights.
Pending court and regulatory approvals, it is anticipated that Aviators
members would be given six months notice before the Aviators program was
discontinued. During that transition period, Aviators members would be
able to continue earning and redeeming miles as they do today.
At the end of the notification period, Aviators members would receive a
bonus mileage posting in their new or existing AAdvantage account equal
to the unused ending mileage balance in their Aviators portfolio.
American Airlines, Inc.
American Airlines and its regional airline affiliate, American Eagle,
together serve more than 240 cities in 49 countries and operate
approximately 4,100 daily flights. American Airlines, which traces its
beginnings to 1926, today operates a fleet of 720 modern jetliners and
employs more than 103,000 people worldwide. American Airlines and
American Eagle are both wholly owned by AMR Corp. (NYSE: AMR).
Forward-Looking Statements
Statements in this news release contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Act of 1934, as amended.
These statements are based on management’s current expectations and are
naturally subject to uncertainty and changes in circumstances. All
forward-looking statements in this release are based upon information
available to the Company on the date of this release. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained in
this release include statements about future financial and operating
results and benefits of the pending transactions described herein.
Forward-looking statements are subject to a number of factors that could
cause actual results to differ materially from our expectations. In
addition to other possible factors not listed, factors that could cause
the actual results and benefits of these pending transactions to differ
materially from those expressed in forward-looking statements include
inability to obtain, or delays in obtaining, the required bankruptcy
court and regulatory approvals; inability to successfully integrate the
operations of TWA into American’s existing operations; inability of
American to successfully integrate the workforce of TWA into American’s
present workforce; higher than expected acquisition costs; actions of
competitors, including responses to the pending transactions; and other
factors, including but not limited to those discussed in the Company’s
Securities and Exchange Commission filings, including but not limited to
the Form 10-K for the year ended December 31, 1999. |