FORT WORTH, Texas (AP) - American Airlines pilots and flight
attendants are taking their protest against management to the
shareholders who own the company.
Hundreds of airline workers took part in a union-organized
protest Wednesday outside the hall where shareholders of American
parent AMR Corp. were scheduled to meet.
The unions are unhappy because there's been little progress in
negotiations for new contracts, while several hundred managers up
to the CEO got stock-based bonuses last month.
Shareholders expected to hear Chairman and Chief Executive
Gerard J. Arpey discuss how the nation's largest airline will deal
with record high fuel prices and a slowing economy that could hurt
demand for travel.
Fort Worth, Texas-based AMR, which also owns the American Eagle
commuter airline, earned $504 million last year, its second
straight profitable year after it lost more than $8 billion in the
previous five years.
But the company lost $328 million in the first three months of
2008, as spending on jet fuel increased $665 million, or 45