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Company Watch - American Airlines.

Apr 23, 2007

American posts Q1 profit of $81M American Airlines on Wednesday reported a first-quarter profit of $81 million. A year ago, the company lost $92 million. The airline said its international operations posted strong results during the quarter. "While we must continue to improve our financial performance, we believe our results show that we have started 2007 on the right track," CEO Gerard Arpey said. Apr 20, 2007

American Airlines parent AMR Corp. reported first-quarter net income of $81 million, reversed from a net loss of $92 million in the year-ago period, marking its fourth consecutive profitable quarter and its first opening quarter in the black since 2000. Apr 19, 2007

American Posts Profitable First Quarter. American Airlines parent AMR today reported a first-quarter profit of $81 million on the wings of high load factors and growing passenger revenue. Apr 18, 2007

Airlines face higher labor costs as they prepare to negotiate contractsAirline workers hope to regain some of the $10 billion in annual concessions they have made since 2002. Contracts at American Airlines will reopen in 2008, and the agreement that covers pilots at the former America West will reopen in June. One analyst noted that by the end of the decade, labor costs will have increased by $5 billion each year. Apr 18, 2007

In written testimony sent to the House Judiciary subcommittee on commercial and administrative law, United Airlines flight attendant Antoinette Muoneke said, "I cannot escape the conclusion that executives used the bankruptcy laws to enrich themselves at the expense of workers like me." Meanwhile, American Airlines cabin staff will carry out informational picketing today at 18 airports to protest executive bonuses and stock awards. "In 2003, all American employees stepped up to the plate and wouldn't take bankruptcy for an answer," Assn. of Professional Flight Attendants President Tommie Hutto-Blake said. "Now we are asking our company to make good on their promise to share the rewards of our labor that flight attendants and all employees have worked so hard to gain." According to APFA, a group of some 874 "elite executives" at American Airlines parent AMR Corp. received an estimated $200 million in stock awards. Apr 18, 2007

American cuts costs without resorting to bankruptcy. American Airlines has managed to lower its costs without filing for bankruptcy protection. The airline negotiated large pay cuts, changes to work rules and reduced benefits with three union groups. Other airlines weren't able to negotiate cuts and filed for bankruptcy protection. Apr 17, 2007

Surge in business flying prompts airlines to refine entertainment The global surge in first-class and business-class flying has spurred some carriers to invest in new in-flight entertainment technology. For instance, American Airlines is installing new personal audiovisual entertainment devices in business-class cabs on Boeing 767-300 aircraft. Apr 16, 2007

Flight attendants from American Airlines, United Airlines and Southwest Airlines are joining forces to protest executive compensation they consider unfair when measured against the benefits and wages lost by front-line employees over the past few years. While the pay packages of airline CEOs have made headlines, employee groups are coming forward to ask Congress to bring more transparency to executive compensation, according to James Little, international president of the Transport Workers Union. Apr 18, 2007

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Apr 16, 2007
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Publication:Airguide Online
Date:Apr 23, 2007
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