Friday, 04 July 2008
The Australian
FACING a hefty financial loss in 2008 and the loss of its spot as the world's biggest airline by passenger traffic, American Airlines is initiating long-range plans aimed at shoring up financial stability and keeping a competitive edge. The soaring cost of jet fuel, up more than 80 per cent from last year, is expected to end a two-year string of annual profits for and for the US airline industry. Analyst Ray Neidl at Calyon Securities has forecast a wider loss for American than earlier projected, as the price of jet fuel continues its relentless rise. He expects AMR to lose $US7.75 per share...
 American Airlines jets sit on the tarmac at Lambert International Airport in St. Louis, Wednesday, July 16, 2003. The parent of American Airlines, the largest U.S. carrier, said Wednesday, July 21, 2004, it earned $6 million in the second quarter, helped
photo: AP Photo/James A. Finley