What you have installed is just the Fortran runtime, which can only run XL Fortran programs which have been already compiled.
IBM does not distribute the compiler for free, only the runtime is shipped with the expansion pack.
If you want to be able to compile Fortran code, you are going to have to purchase the IBM XL Fortran compiler. It looks like the latest version for AIX is XL Fortran Enterprise Edition 10.1 - the IBM program # is 5724-M13.
I believe that there is also a free g77 compiler that you can find online, but this would of course not be officially supported, as it is GNU.
IBM Maintains a library of precompiled tools at:
http://www-03.ibm.com/servers/aix/pr.../download.html
Unfortunately, it looks like only the gcc and gcc-c++ compilers are there, not g77 -
Hope this helps.