American Airlines Group Inc. Morgan Stanley's 14th Annual Laguna Conference

Great. Welcome back. Kicking off airlines content at the conference, we are very happy to welcome back American Airlines with CEO Robert Isom and CFO Devon May. Gentlemen, thank you so much for coming back to Laguna.

Ravi, great to see you.

Thank you. Before we kick off, I want to say, for research disclosures, please see Morgan Stanley's research disclosure website at morganstanley.com/researchdisclosures, or please see our recent research. With that, Robert, plenty going on. I do not know if you want to maybe open up with a few thoughts on what you are seeing out there.

I would. First off, thanks for having us. I will just start with this. A lot of stuff going on in the world, but demand remains strong.

Oh. That is really great to see, and I know we are going to spend some time on it.

From an American Airlines perspective, premium global airline, we are doing all the right things to make sure that we reinforce that purpose.

Yep. The storyline for us is still we are the airline with the greatest potential.

It really is because of the opportunities we have ahead of us from a revenue perspective. We have talked a lot about the things that we are doing with our four pillars. Rebuilding our network. Yep. We had significantly undergrown, since prior to the pandemic, our network.

This is the first year we have been able to really put all the pieces together with pilots and aircraft deliveries and gate availability. We have done a really nice job of making sure that DFW and Charlotte, Miami, Philadelphia, Phoenix, Chicago, back to where we need them to be.

So feel really great about our network. On top of that, we've been doing everything possible to really lean into improving our customer experience.

Sure. From that perspective, it's just every week, I think you've seen something coming out of American.

It's not just the reconfigurations that have been in place for the last few years, anticipating this drive for premium revenue, but it's new Flagship Suite, and it's new lounge investment. On top of that, our customers are really telling us that we're doing the right things from an NPS perspective. There's more coming. You've seen the announcements that we've made about high-speed Wi-Fi, but it's not just that. Now it's Starlink- and a return to seat back video.

Yep. From a customer experience perspective, really leaning into it.

That as well. You've got a network. You've got an experience. That allows us to really take advantage of the drive to premium revenues.