01-22-2003, 09:25 PM
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| Senior Member
Join Date: Sep 2001 Location: AUS
Posts: 690
| 'Treacherous' times for American Airlines
'Treacherous' times for American Airlines Quote:
AMR Corporation, the parent of American Airlines, has described conditions for its company as "treacherous", as a slow world economy, terrorist threats and the possibility of a war with Iraq threaten its business.
The group pledged to make savings of $4bn (£2.6bn) in a bid to survive the bleak conditions, but said its performance to date continued to be unacceptable.
The news came as AMR reported losses of $529m for the three months to December, and $3.5bn for the whole of 2002 - the largest yearly loss in aviation history.
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