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AA CEO Brags About Carrier’s Profits
Ryan Boyd October 02, 2017
“I don’t think we’re ever going to lose money again,” said American Airlines CEO Doug Parker on Thursday. “The old world was darkness, but now it’s light,” he said. “I know I sound like an evangelist talking about this.”
American Airlines’ shares gained rose by 1.4 percent and have reached as much as 6 percent this month alone, and according to Robert Isom, the president of American Airlines, American has only begun “scratching the surface” of ancillary revenues.
To read more on this story, go to CNBC.
[Photo: Shutterstock]
When Tom Horton hands you a successful airline, yeah - wow - gee willikers - I guess it stays profitable, magically. Doug Parker is already destroying AA. The fact that market consolidation relieved pressure off the destructive force of his awful business acumen, the fact that if not for bankruptcy related costs, Horton's airline would have been profitable (remarkable, really), and that a full one third of the remaining large airlines (United) still can't seem to get its shit together provides explanation mostly for how he hasn't done more damage than he has. I have no doubt that if Horton's team was still in charge, AA would be in an even stronger position today with a far more secure outlook and far more loyal customer base. Let's remember that Parker and his gang of US Airways execs bullied themselves into AA leadership by holding the board hostage with threats of leaving talks unless they got exactly their way, and more importantly, flat out lying to the unions in back door negotiations without any then AA management being aware, which I think the unions subsequently sorely ended up regretting. AA is now run by mobsters - plain and simple.
Pride cometh before a fall, Doug. The business cycle has not been repealed.
Ancillary Revenues = FU Fees
A head of a cartel brags about being profitable? Oh what a clever lad you are!
How much more abuse from AA and other airlines can passengers take before they revolt?