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Old 01-22-2003, 09:25 PM   #1
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'Treacherous' times for American Airlines

'Treacherous' times for American Airlines

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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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