Hey guys, here is the latest email received from the company.
AA
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Posted: 7/16/2003 11:42:05 AM
Title: SPECIAL JETWIRE FOR WEDNESDAY, JULY 16, 2003
Brief: AMR ANNOUNCED IMPROVED EARNINGS, NETWORK CHANGES
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SPECIAL JETWIRE FOR WEDNESDAY, JULY 16, 2003
PLEASE POST ON ALL BULLETIN BOARDS
---AMR ANNOUNCED IMPROVED EARNINGS,
NETWORK CHANGES---
AMR Corp. today announced improved financial results for the second
quarter. Additionally, American will be making St. Louis into a smaller
hub with an enhanced focus on local traffic. The airline will also be
closing the St. Louis Reservations office as consumers continue opting for
alternative ways to book flights.
AMR Corp. reported a second-quarter net loss of $357 million before
special items, compared with a loss of $465 million before a special item
in the second quarter of 2002. These results represent a dramatic
improvement over the $1.04 billion net loss AMR recorded in this year's
first quarter.
In St. Louis, American and the AmericanConnection carriers will reduce
flight operations effective Nov. 1. The airline also said it would close
its St. Louis Reservations office on Sept. 15.
St. Louis will remain a hub, in fact, the fourth largest hub in terms of
total departures. President and CEO Gerard Arpey said that in the context
of the Turnaround Plan, American would shift most east-west connecting
traffic from St. Louis to Chicago and DFW to "fly smart." The move will
strengthen AA's two biggest hubs and concentrate St. Louis's flying on
what has been successful there, serving the local market.
Closing the St. Louis reservations office was "driven by hard economic
realities," Arpey told employees in a letter being distributed today and
currently available via Jetnet.
Additionally, AMR's Board of Directors approved the appointments of three
new vice presidents. These are not new positions, but rather vacancies
that occurred when former officers left the company. In addition to the
appointments, two current officers will transition to leading new work
groups.
Lauri Curtis is vice president-Flight Service; Danny Martinez is vice
president-Line Maintenance; and Debra Hunter Johnson is vice
president-Human Resources Operations Support. Bella Goren, currently vice
president-Customer Services Planning, replaces Curtis in Reservations; and
Marilyn Devoe, a 20-year AA veteran, succeeds Goren. "I have every
confidence that each of these individuals will do a great job in their new
roles," Arpey said. "Each has a long track record of hard work, ethical
behavior and success, and each is devoted to American and its future."
The Board also approved the annual management stock program as it has done
for more than 20 years.
Employees should see the front page of Jetnet at
http://jetnet.aa.com for
the full financial news release and a letter from Arpey.