67 WALL STREET, New York - November 23, 2009 - The Wall Street Transcript has just published its Travel and Leisure Report -- Airlines, Hotels, Resorts, Cruise Lines, and Restaurants -- offering a timely review of the sector to serious investors and industry executives. This 137 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available via The Wall Street Transcript Online.

Topics covered: Consumer Traveler Spending - U-Shaped Recovery in Restaurant Sector - Low-Cost and Network Airlines - Airline Carriers and Online Travel Agencies - Hotel Occupancy Rates - Improvement in Transportation Sector - Upscale Casual and Fast Casual Restaurants - Near-Term Risk in Hotel Space - Fuel Prices a Universal Concern - Restaurant Industry Stability - Increased Consolidation in Airline Industry - Firming of Traffic Trends in Restaurant Space - Best Practices in the QSR Franchise Sector

Companies include: Vail Resorts, Inc. (MTN); Air France-KLM (AFLYY); AirTrans (AAI); Alaska Air Group (ALK); Allegiant Travel Group (ALGT); American Airlines (AMR); Applebee's (APPB); Ashford (AHT); BJ's Restaurants (BJRI); Boeing (BA); Brinker (EAT); British Airways (BAY); Buffalo Wild Wings (BWLD); Burger King Corp (BKC); California Pizza Kitchen (CPKI); Carnival (CCL); Cheesecake Factories (CAKE); Chipotle Mexican Grill (CMG); Choice (CHH); Continental (CAL); Darden (DRI); Deltas (DAL); Denny's (DENN); DiamondRock (DRH); Domino's (DPZ); Expedia (EXPE); Famous Dave's (DAVE); FelCor (FCH); Gaylord Entertainment (GET); Great Wolf Resorts (WOLF); Green Mountain (GMCR); Hawaiian Holdings (HA); Home Inns & Hotels (HMIN); Hospitality Properties Trust (HPT); JetBlues (JBLU); LaSalle Hotel Properties (LHO); Lufthansa (LHA); MHI Hospitality Corporation (MDH); Marriott (MAR); McDonald's (MCD); Mesa (MESA); Morton's (MRT); National Business Travel Association (NBTA); National Mediation Board (NMB); Orbitz (OWW); P.F. Chang's (PFCB); Panera Bread (PNRA); Peet's (PEET); Priceline (PCLN); Republic (RJET); Royal (RCL); Royal Caribbean International (HST); Ruby Tuesday (RT); Ruth's Chris Steakhouse (RUTH); Sonesta (SNSTA); Sonic (SONC); Southwests (LUV); Spicy Pickle (SPKL.OB); Starbucks (SBUX); Starwood (HOT); Strategic (BEE); Sunstone (SHO); Texas Roadhouse (TXRH); UFood (UFFC.OB); US Air (LCC); Uniteds (UAUA); Wyndham (WYN).

In the following brief excerpt from just one of the 25 in depth interviews in the 137 page Special Report, the Vice President of Corporate Development and Treasurer of American Airlines discusses the outlook for her company for investors.

Beverly Goulet was named Vice President, Corporate Development, and Treasurer of American Airlines, Inc., in June 2002. She is responsible for American's debt and equity financings, derivatives programs, banking, corporate insurance and risk management, and fleet transactions. She is also responsible for American's corporate development initiatives, including mergers, acquisitions, divestitures and strategic investments.

TWST: More recently, I believe the company has focused on strengthening its liquidity and its financial standing in what is clearly a challenging environment for all airlines. Talk a bit about those initiatives.

Ms. Goulet: As you said, it has been a very challenging environment in which to raise liquidity, but year-to-date, we have been very successful. We have raised substantially more than $5 billion year-to-date. Even during the first half of the year, when conditions were about as bad as they could get, we were able to arrange financing both for new delivery aircraft as well as for aircraft already in our fleet. And I think all of this is frankly testament to the fact that we have met our obligations as they have come due, as opposed to resorting to the bankruptcy courts as a number of our competitors have. Things really got cranking early in the third quarter as the capital markets did begin to reopen.

We raised about $800 million of financing in both public and private transactions secured by aircraft, again, already in our fleet or new aircraft that we will be taking delivery of. But the cornerstone of our efforts was laid in September, when we arranged $2.9 billion of financing with two of our long-time key business partners. The first of those is Citi. We did a $1 billion advance sale of AAdvantage miles with Citi. And then we did two transactions with General Electric - a $282 million loan facility secured by owned aircraft, and then we put in place with GE a $1.6 billion sale-leaseback commitment that will finance aircraft that we will take delivery of in 2010 and 2011. So those three transactions, the Citi transaction and the two GE transactions, totaled just about $2.9 billion.

The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. The rest of this interview and the 137 page special issue is available via The Wall Street Transcript Online .

The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.

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