However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.

We have, unlike many of our competitors, continued to meet our various financial obligations.

These are times of unprecedented challenge and change in the airline industry, and the appointments we are announcing today will put American in an even stronger position to continue the substantial progress that has already been made under the tenets of our Turnaround Plan.

Our Fly Smart philosophy is about investing only on those points of differentiation that pay for themselves, that earn a revenue premium commensurate with what it costs us to provide that product or service.

We continued the hard work of integrating TWA, because at that time we still thought an efficient connecting hub in St. Louis could be a profitable addition to our network.

That doesn't mean you have to have the lowest costs in the industry to succeed. But you need to make sure the activities and product attributes that increase your costs above the other guy bring in at least that much more in revenue, and hopefully more.

At American Airlines, we have built a business around the love of travel that has lasted three quarters of a century. And I'm pretty sure we're just getting started.

Despite the painful changes we have had to make, we continue to believe in the St. Louis market. And we are hoping to add flights, in a careful way, as the economics of our business improve and the demands of the traveling public in St. Louis become clear.

We need to take excellent care of our customers, and do so at a profit.

First, we have to lower our costs to levels that are more competitive. This will prevent the lower-cost airlines from pushing us out of the markets we want to serve. We've made great progress on this front, but we need to keep pushing.

But I don't think the popularity of flying has diminished a bit.

The executive moves we are announcing today will strengthen American for the long-term future and reflect well on the depth of the Company's management team.

Markets that don't work we're going to step away from.

But I definitely see us playing a major role in St. Louis in the years to come. We already provide service to 95 percent of the markets St. Louis travelers visit the most. And we're adding capacity in some of the most important markets.

Our planes should be full, which among other things means we have a golden opportunity... to build on the momentum reflected in the financial results we are reporting today.

Second, we have to make the most of the strengths we have, the amenities that many of our competitors cannot replicate. But again, those advantages won't mean much if we don't do a great job with the basics of our business.

However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.

Just to cover the increase in fuel costs over the past two years, American would have had to raise fares nearly $75 per round-trip ticket. During this time period, our average fare increased by only $15.

One of our most difficult realizations was that - in the course of two years - a connecting hub in St. Louis had gone from something we thought we needed to something we could no longer afford.

I think in just about any business the low cost competitor is always going to have an advantage.

This airline is grateful for his extensive contributions and we will miss his friendship and support. We extend our deepest sympathies to the Casey family on its personal loss.

It is not good thinking - either at the corporate level or at the personal level - to believe you can simply walk away from your circumstances.

Natural resources are so vast that no single individual or business is going to protect them; they don't have an incentive to.

The bronze powder business, however, no longer required my personal attention, and was well managed by those I had chosen as the guardians of a secret, which was long and honourably kept.

I have done things politically, and I've been running a business at the same time, but I sort of joke that to some extent I do more than most legislators have done in their whole careers, and I've been doing it as a part-time job.

Howard Hughes himself was a regular at the restaurant, and in a way it became his headquarters, too. Howard had recently relocated to Las Vegas, so when he wanted to do business in Los Angeles, he went into the back of our restaurant to use the telephone.

Prosperous farmers mean more employment, more prosperity for the workers and the business men of every industrial area in the whole country.

My parents were amazing people who had no business being together - and they knew it.

We mean by "politics" the people's business - the most important business there is.

Slovakia's joining the OECD in 1999 is totally dependent on meeting economic reforms required such as transparency and legislation that permits fair and open conduct of trade and business.

The way the business things work in Russia is you have to meet people, you have to go through a certain amount of etiquette and business things are done just simply by a shake of the hand and whether they like you or not.

I make no claim to being a business genius. You can make so much money in this business that it loses its value.

It costs a great deal of money to do a musical, and the more money involved, the more big business influences the artform.

It's a very hard and competitive business in which you have to fight every day in order to impose yourself.

I know the history of the record business so well because I followed Billie Holiday into the record studios. It was so primitive compared to the sophisticated business today.

Chicago kept industry, attracted new business, became the center for convention trade and transportation.

I have been, and will go on, fighting that damnable, dirty, rotten business with all the power at my command.

All business success rests on something labeled a sale, which at least momentarily weds company and customer.

I knew an actor's career goes up and down and back up again. Your standing in this business can't be your whole identity; otherwise, you're doomed.

The surest way to return to the people's business is to listen to the people themselves: We need to drop this whole scheme of federally controlled health care, start over, and work together on real reforms at the state level that will contain costs and won't leave America trillions of dollars deeper in debt.

Again, I say I will be glad to tell what songs I have ever sung, because singing is my business.

You have to be a star to be in this business.

The government must do all it can to help reduce interest rates for business.

Do what you love to do and give it your very best. Whether it's business or baseball, or the theater, or any field. If you don't love what you're doing and you can't give it your best, get out of it. Life is too short. You'll be an old man before you know it.

I have never had anything done. I've been asked if I had breast implants. Whether I did or not, it's nobody's business but my own.

You just can't get too focused on worrying about what's going to happen in the next quarter. You have to worry about where the business is headed long-term.

They all went into the bar business. Which was a mistake, because they began to sip at the merchandise and it set them back, set us all back. Well, them more than I.

There was a time when I was wondering about this business of going public, so I visited about a half-dozen companies in the Boston area, all of them formed by MIT faculty and all had gone public.

A business of high principle generates greater drive and effectiveness because people know that they can do the right thing decisively and with confidence.