There are quite a few threads on this if you do a search.

The basic answer is - no-one knows, although everyone hopes it will be announced in 2005.

Although from information gleaned on another forum from reliable highly placed AA sources, it may be the case that policies such as increased domestic codesharing, e-ticket interlining with oneworld partners, the lack of investment and maintenance of AA premium seats, the rolling back of MRTC and the move towards a more restrictive/costly upgrade policy indicate that it is not inconceivable that AA may simply drop transatlantic flights all together, and simply offer codeshares on BA metal to the UK (as its does with its flights to Australia on Qantas, and currently on Swiss to Zurich).

That would leave the mainland European destinations either to be served direct on AA metal with unenhanced cabins (as product/price competition is less severe on these routes) or via LHR on BA metal (which would be a nightmare currently, but not so bad once the new Terminal 5 opens in a few years' time, amalgamating all the oneworld carriers into one terminal).

AA have also failed to counter a more serious threat; premium economy cabins. MRTC was an effective stopgap, especially to compete with United Economy Plus, but with MRTC being partially rolled back, this is no longer sufficient.

As has been said in other threads many companies, particularly for East Coast-Europe runs do not permit anything other than Economy travel. Premium Economy may well be permitted under these rules, and that is where margins can be increased to maximise corporate spend.

Virgin Atlantic, British Airways and BMI British Midland all offer a seperate cabin and genuinely enhanced (ie a whole new seat design, with increased dimensions and comfort) in these classes transatlantically, for a modest premium. United maintains its Economy Plus product. AA has no offering in this bracket.

This is just one option available, and before I am flamed into oblivion, I simply put this out there to spark debate on what is a potential plan for AA in the coming years; they certainly do not seem even to have acknowledged yet the need to reform their international products, and as it takes time to design, roll out and install new products it seems realistic to examine other options available to AA right now, beyond a seat re-design.