American Airlines Group Inc. (NASDAQ:AAL) Q2 2020 Earnings Conference Call - Final Transcript

Jul 23, 2020 • 08:30 am ET


American Airlines Group Inc. (NASDAQ:AAL) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the American Airlines Group Second Quarter 2020 Earnings Call. Today's conference call is being recorded. [Operator Instructions] Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]

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

Daniel Cravens

Thanks, Sarah, and good morning, everyone. And welcome to the American Airlines Group second quarter earnings conference call. Joining us on the call this morning, we have Doug Parker, Chairman and CEO; Robert Isom, President, and Derek Kerr, Chief Financial Officer. Also on the call for our Q&A session are several of our senior executives, including Maya Leibman, Chief Information Officer; Elise Eberwein, EVP of People and Communications; Steve Johnson, our EVP of Corporate Affairs; Vasu Raja, Chief Revenue Officer, and David Seymour, our Chief Operating Officer.

Like we normally do, Doug will start the call with an overview of our quarter and the actions we're taking during this pandemic, and Derek will follow with details on our liquidity and cost outlook. After Derek's comments, we will open the call for analysts' questions and lastly questions from the media. To get in as many questions as possible, please limit yourself to one question and a follow-up.

Before we will begin, we must state that today's call does contain forward-looking statements, including statements concerning future revenues, costs, forecasts of capacity, fleet plans and liquidity. 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 June 30th, 2020.

In addition, we will be discussing certain non-GAAP financial measures this morning, which exclude the impact of unusual items. A reconciliation of those numbers to the GAAP financial measures is included in the earnings release and that can be found in the Investor Relations section of our website. A webcast of this call will be also archived on our website. 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.

So thanks again for joining us this morning. And at this point, I'd like to hand the call over to our Chairman and CEO, Doug Parker.

Doug Parker

Thank you, Dan. Good morning, everyone. Thanks for joining us today. I'm going to give some color on the work we're doing to manage the current environment to ensure that we are well positioned when we come out of this crisis. Derek's going to provide an update on our liquidity and cash burn. And then as Dan noted, we have several executives in the room including our President, Robert Isom, and our Chief Revenue Officer, Vasu Raja here to answer any questions you may have.

So to begin, I need to acknowledge and applaud the entire