As you would imagine, today's news comes at a difficult time for the nation, a difficult time for the airline industry and a very difficult time for American Airlines.

While we continue to be concerned about the price of fuel, we are encouraged by the strength of the U.S. economy and more favorable recent trends in industry capacity.

AMR is pleased to have reached a reasonable, constructive and mutually beneficial agreement that we think fairly addresses our ownership position in Canadian and provides for American?s continued access to the Canadian marketplace.

[The new order] will allow us to continue our plans for managed, relatively modest growth, in line with our expectations of the market. It [also] lets us begin planning for the orderly retirement of our DC-10 fleet.

We are obviously disappointed that the illegal job action undertaken by the Allied Pilots Association leadership so dramatically impacted our first-quarter financial results.

The success of our efforts is not assured.