American Airlines Wants To Resolve The Case Of The Missing $1.5 Billion [Forbes]
American Airlines Group, Inc. (AAL)
Last american airlines group, inc. earnings: 4/30 07:30 am
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Source: Forbes
American Airlines said Thursday that it will lose $1.5 billion in revenue this year due to a failed effort to bypass traditional corporate buying channels. It's not quite clear where the money went. Delta and United have been coy in discussing whether American's loss benefitted them. American did not respond to an emailed question on the topic. Dennis Tajer, spokesman for Allied Pilots Association, which represents American pilots, said, “The lost revenue went into the coffers of Delta and United. American lost: they won. Rich revenue doesn't just evaporate “We don't need Nancy Drew to determine where the $1.5 billion went,” Tajer said. Speaking on American's second quarter earnings call, CEO Robert Isom sought to explain the carrier's earnings shortfall. He listed two reasons: the excess capacity that has plagued the industry and the failed effort to gain direct corporate bookings by discouraging bookings through third-party sites and travel agencies. This was to be accomp
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