As of December 31, 2003, AWA had firm commitments to purchase or acquire by operating lease a total of 15
Airbus A318-100, one Airbus A319-100 and three Airbus A320-200 aircraft for delivery in 2004 through 2007.
AWA also has 17 options and 25 purchase rights to acquire aircraft in the “A320 family” of aircraft (A318s, A319s,
A320s and A321s) for delivery in 2005 through 2008.
We expect that expirations of aircraft operating leases scheduled to occur over the next several years will allow
AWA the flexibility to manage the growth of its fleet size and related financial obligations in response to
unfavorable economic conditions. Certain of these leases contain put options pursuant to which the lessors could
require AWA to renew the leases for periods ranging from eight months to 8.7 years or call options pursuant to
which the lessors could require AWA to return the aircraft to the lessors upon receipt of four to nine months written
notice. In 2003, AWA renewed the leases for three aircraft as a result of the exercise of put options by the aircraft
lessors. No call options were exercised in 2003. Assuming the exercise of the put options, as of December 31,
2003, leases for 57 of AWA's aircraft should be terminated by the end of 2008.