New CEO of American Airlines to make tough decisions
Dec. 15, 2011, Dallas, Tx. - The new CEO of American Airlines says the company will cut jobs and make tough, unpopular decisions as it goes through bankruptcy.
Thomas W. Horton also said Thursday in a letter to employees that "opportunists" might try to buy American, sell it or break it up, but he advocated keeping the company together.
Horton says American will focus in coming weeks on renegotiating debt and aircraft-lease deals. He says the company will ground some planes and shrink before it can grow again.
Horton isn't saying how many jobs will be cut or how much the airline will reduce flying. American has about 74,000 employees, and it's the nation's third-biggest airline.
American and parent AMR Corp. filed for bankruptcy protection on Nov. 29.