CEO warns of more job cuts at American Airlines
Wednesday, November 3rd 2004, 2:33 pm
By: News On 6
FORT WORTH, Texas (AP) _ The head of Fort Worth-based American Airlines says the carrier will cut more jobs to reduce costs.
Chief executive Gerard Arpey offered the update today to investors during a meeting in New York.
The company had already disclosed that it would lay off up to 650 mechanics and 450 pilots.
Arpey says American will see more cuts across the board -- ``all workers'' -- in the months ahead. He had no specific numbers.
American and other carriers are losing money due to higher fuel costs and tough competition.
Also, Arpey says parent company AMR is still considering selling its investment subsidiary and its commuter -- American Eagle.
But Arpey says commuter carriers are profitable -- while most of the so-called mainline airlines are losing money.