In the Eagle Eye released today, AMR announced that unrestricted cash is expected to be about $3.1 billion at year end, down substantially from prior periods.
http://phx.corporate-ir.net/phoenix.zhtml?...1hCUkw9MQ%3d%3d
Time for AA to find new sources of cash.
Fuel is still expensive due to hedges with floor prices (that keep AA from getting full benefit of lower prices).
Liquidity: At the end of the third quarter 2008 we held approximately $240 million of hedge collateral from counterparties; however, due to the decline in the price of oil during the fourth quarter we expect that by the end of the fourth quarter we will have posted approximately $550 million in hedge collateral with counterparties (based on the 12/12/08 forward curve). Taking this into account, we expect to end the fourth quarter with a cash and short-term investment balance of approximately $3.6 billion, including approximately $460 million in restricted cash and short-term investments.
http://phx.corporate-ir.net/phoenix.zhtml?...1hCUkw9MQ%3d%3d
Time for AA to find new sources of cash.
Fuel is still expensive due to hedges with floor prices (that keep AA from getting full benefit of lower prices).