Open Travel Alliance
American Airlines Seeks to Lay Off 13,000
On Wednesday, American Airlines declared that it would lay off 13,000 workers or 15 percent of its workforce. The company is attempting to emerge from bankruptcy, which it filed last November. Along with the layoffs, the company is seeking to cut employee pensions and some health benefits. AA CEO Tom Horton called the decisions “painful” […]
Analysts See Hope at American Airlines
Though it sounds like bad news, some analysts are saying the bankruptcy filing by American Airlines and its parent company could be a good thing. On Tuesday, Fitch Ratings said American Airlines’ bankruptcy opens “yet another window for structure change” in the flailing U.S. airline industry. Can an industry facing skyrocketing fuel prices, increasingly complex […]
American Airlines Files For Bankruptcy
American Airlines’ parent company, Texas-based AMR, filed for Chapter 11 bankruptcy Tuesday morning, making it the last major airline in the U.S. to do so. American, the nation’s third largest airline, will continue operations during the restructuring, which it hopes will reduce labor costs and $29.6 billion in debts. AMR has lost $982 million since […]
Amtrak on the Line
The pressure to cut federal subsidies may put some Amtrak passenger train service on the chopping block. The rail line seems like an easy hit, until the subsidies and hidden costs of auto travel are factored in. How does the equation look then? From Boston, Dan Grossman adds it all up.