On the Call: AMR CEO Gerard Arpey

The Associated Press

AMR Corp., the parent of American Airlines, reported Wednesday that it lost $162 million in the third quarter. The company has lost more than $12 billion since 2001, but officials say they're turning the company around, and part of their plan involves buying 460 new planes over the next several years.

Chairman and CEO Gerard Arpey told analysts on a conference call that the new planes will be cheaper to operate and make flying more comfortable for passengers.

ARPEY: While we don't take delivery of that first airplane until 2013, I really think that that is a transformational, foundational piece for our company because it represents so much power in terms of what we can do to transform the customer experience (and) our cost profile going forward in terms of fuel and maintenance.