Horton said AMR expects fuel prices to average $2.42 per gallon for the year. He said AMR has 24 percent of its anticipated full-year consumption hedged at an average cap of $2.48 per gallon of jet fuel equivalent ($93 per barrel crude oil equivalent), with 22 percent subject to an average floor of $1.80 per gallon of jet fuel equivalent ($65 per barrel crude equivalent).
As of Jan. 8, the average 2010 market forward price of crude oil was more than $85 per barrel.
AMR ended the fourth quarter with $4.9 billion in cash and short-term investments compared with $3.6 billion in cash and short-term investments on Dec. 31, 2008.
AMR's total debt, which it defines as the aggregate of its long-term debt, capital lease obligations, the principal amount of airport facility tax-exempt bonds and the present value of aircraft operating lease obligations, was $16.1 billion at the close of 2009's fourth quarter, up from $15.1 billion a year earlier.
AMR shares closed Wednesday at $8.49, up 41 cents or 5.1 percent.