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Parent of American Airlines plans layoffs after $214 million loss.
Knight Ridder/Tribune Business News, October, 2004
By Trebor Banstetter, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Oct. 21--Wednesday was a tough day for nearly everyone connected with American Airlines.
Employees learned that more layoffs are in store as the struggling airline cuts back. Passengers were told that they'll be squeezed tighter into airplanes as American adds seats to its coach cabins. And investors saw the company's stock slip as it posted another quarter of steep losses.
"I wish I had better financial news to share with you today," said Gerard Arpey, chief executive of Fort Worth-based AMR Corp., which owns American Airlines, in a conference call with analysts and reporters. "Obviously, this is disappointing."
AMR reported that it...
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