Las Vegas Sun

November 14, 2009

Currently: 60° | Complete forecast | Log in

Fare cuts announced

Wednesday, May 21, 2003 | 9:50 a.m.

FORT WORTH, Texas -- American Airlines said today it would cut fares on some routes and add seats back to many planes as part of a turnaround plan outlined by the new chief executive.

Chief Executive Gerard Arpey announced the moves at the company's annual shareholders meeting.

Chairman Robert Brennan said he would not take a salary and Arpey, who became CEO last month, would not take a raise, as the world's largest carrier struggles to avoid bankruptcy.

Fort Worth-based American is working to cut annual costs by $4 billion, about half of that through employee benefit and wage cuts. Executives said the company's finances have improved partly because of a $360 million aid payment from the government. American lost $1 billion in the first quarter.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 14 Sat
  • 15 Sun
  • 16 Mon
  • 17 Tue
  • 18 Wed

All events on Saturday »