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AMR Corp Warns of "Huge" Third-Quarter Losses

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AMR Corp Warns of "Huge" Third-Quarter Losses

Old 10th Sep 2001, 13:10
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The Guvnor
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Exclamation AMR Corp Warns of "Huge" Third-Quarter Losses

And this one is (partially) attributable to greedy pilots ...

From today's atwonline.com:

[b]American parent warns of huge third-quarter loss
Dateline: Monday September 10, 2001

AMR Corp. warned that its loss for the third quarter ending Sept. 30 will be "considerably larger than its second-quarter loss" owing to the effects of the weak economy, high fuel prices and increased labor costs.

The parent of American Airlines and TWA LLC also said it expects to post a "significant" fourth-quarter loss. AMR lost $105 million or 68 per share in the second quarter ended June 30 before special writeoffs that raised the total to $494 million or $3.20 per share.

The company also said it will retire five more 727s a year ahead of schedule. The aircraft previously had been set to leave in 2003 but now will depart in the first quarter of 2002. The latest change means that American will have retired all of its 727s by the end of 2002, 12 months ahead of schedule. As of Aug. 7 it operated 55 727s. As a result of the latest reductions, capacity for the combined American/TWA entity will be flat in 2001 and fall by almost 1.5% in 2002. AMR said that American also has trimmed almost $1.2 billion from its capital budget by passing on certain purchase rights for aircraft that would have been delivered in 2002 and 2003.
 
Old 10th Sep 2001, 14:32
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I should keep your daft accusations to yourself! If pilots are 'greedy', what are you?
<http://flytristar.tripod.com/article/art06.html>
What words would suitably describe such a failure.....such a promiser of so much and deliverer of so little?
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Old 10th Sep 2001, 15:12
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Notso Fantastic - dear boy, chiming in yet again with a notso clever and notso relevant response! Strange, you're always complaining about having to read my posts - yet not only do you, but you respond to them as well with the same, notso interesting cr*p!

Notso logical, eh?
 
Old 10th Sep 2001, 15:15
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Ok Guvnor I'll bite.

How is this "attributable to greedy pilots" when the stock market is tanked, fuel cost is still through the roof and the pilots of American are still operating under their old contract. AMR just came off years of record setting profits with these "greedy pilots."
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Old 10th Sep 2001, 16:17
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Sorry AAL_Silverbird - the comment about 'greedy pilots' was largely a tongue-in-cheek one prompted by our friend Notso Fantastic (and others) who say that I blame everything on the 'greedy pilots'. As this article included an atribution of the losses to increased labour costs, I couldn't resist it.

That said, bearing in mind that Delta's latest round of pay increases add half a billion dollars to overheads per annum (more than the cumulative profit over the last ten years) - what will the effect be with American?
 
Old 10th Sep 2001, 16:52
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Guv

I've been thinking about this NotSoFantastic character - and the only conclusion I can draw is that he fancies you

WxJx
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Old 10th Sep 2001, 18:26
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Let's see Guvnor,

If AMR gives the pilots of American the same 25% pay raise which the pilots at UAL and DAL received "what will the effect be with American?"

Hummmmm what would I do with a 25% pay raise . . . let me think about it and get back to you.



[ 10 September 2001: Message edited by: AAL_Silverbird ]
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Old 11th Sep 2001, 07:13
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guv/neil/whatever,

It's with pithy (stupid) posts like this that folks have a hard time discerning when you have something sensible/worthwhile to say.

All joking aside, give the greedy stuff a rest and just support your views with facts.

I'd have a lot more (some) respect for you if you actually posted something you knew about from time to time.

dd
(ps Don Carty will make $9million this year-and good luck to him-let him take some of the blame too.
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Old 11th Sep 2001, 10:27
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dallas dude - how much of that US$9m is made up of cash salary, cash bonus and the value of share options? At that sort of level, the overwhelming majority is usually in the form of options which are effectively performance related pay - because if the CEO/senior management don't do their job properly, then the option exercise price is higher than the market value and therefore worthless...

AAL_Silverbird - don't post pics like that here, for goodness sake ... you'll be prompting strikes at BA next!
 
Old 11th Sep 2001, 13:52
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Weatherjinx, Yeah I fancy this idiot like we all fancy non-stop squawking mother in laws! Don't you find this fool's non stop preaching to us about everything in aviation a little beyod the pale? Like if he ran an airline of 44 Tristars or something, doing well, well maybe he would have something to preach about, but a failure lecturing multitudinous aviation experts here is too much to take!
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