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American Airlines Plans Capacity Increase Amid Turnaround Fight
American Airlines unveils a turnaround plan including adding seats on many planes and capping fares on select routes along with $4 billion in annual cost cuts. Gerard Arpey, new CEO, outlined a 6 percent summer capacity drop and 15 percent cut by next summer from 2001 levels. The plan comes after more than $6.2 billion in losses since 2001 and amid calls for greater executive disclosure while the carrier seeks to avoid bankruptcy.
MENTIONED IN THIS ARTICLE
Fort Worth
American Airlines
Gerard Arpey
American
Arpey
Edward Brennan
Brennan
Donald J. Carty
Atdry
Carty
Caribbean
Jon Ash
Washington
Global Aviation Associates