wheres the big wenesday 9 AM DFW announcment thing ?

flyingman

Member
Jan 29, 2007
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wheres the big wenesday 9 AM DFW announcment thing ? I went to DFW AIrport website and nothing is there
 

And then there is:

AMR Corp Sees $12 Million In Interest Savings After Refinancing



DOW JONES NEWSWIRES

AMR Corp. (AMR)
said it expects annual net interest savings of $12 million after efforts to strengthen its balance sheet.

The Fort Worth, Texas, parent company of American Airlines said it amended the $442 million floating-rate term loan portion of its credit facility, lowering the interest rate to 2% over LIBOR from 3.25% over LIBOR.

AMR said it also refinanced $236.4 million of bonds, reducing the interest rate by 1.75% to 5.5%.

In addition, the company's American Eagle Airlines unit prepaid $48.2 million of aircraft debt.

AMR said it expects to end the second quarter with $6.2 billion in cash and short-term investments, and total debt of $17.3 billion.
 
And then there is:

AMR Corp Sees $12 Million In Interest Savings After Refinancing
DOW JONES NEWSWIRES

AMR Corp. (AMR)
said it expects annual net interest savings of $12 million after efforts to strengthen its balance sheet.

The Fort Worth, Texas, parent company of American Airlines said it amended the $442 million floating-rate term loan portion of its credit facility, lowering the interest rate to 2% over LIBOR from 3.25% over LIBOR.

AMR said it also refinanced $236.4 million of bonds, reducing the interest rate by 1.75% to 5.5%.

In addition, the company's American Eagle Airlines unit prepaid $48.2 million of aircraft debt.

AMR said it expects to end the second quarter with $6.2 billion in cash and short-term investments, and total debt of $17.3 billion.

DOW JONES newswire says the debt will be at 17.3 bil., but FWST says 11.6

For our sake, I hope it is 11.6 billion.

From the Fort Worth Star-Telegram
---AMR UNVEILS SAVINGS STRATEGY---
American Airlines hopes to save millions of dollars in interest payments through a series of efforts to bolster its balance sheet, including paying off $48 million in aircraft debt. The airline estimates that it will save about $12 million annually in interest rates. Executives also said that the net debt will total about $11.6 billion at the end of the second quarter, down from $14.2 billion at the end of the second quarter last year.
 
The difference is TOTAL debt verses NET debt. You are looking at both. Total debt is 17.3 billion. Net debt is 11.6 billion. Net debt is total debt minus cash on hand, not including restricted cash, which is approx. 500 million. So, the numbers do work out to be roughly the same.