It was always a bad concept and never made sense. None of the big carriers would give up seat capacity. They matched them on every route. Even with their own bankruptcy problems, all three major airlines had more financial resources than tiny Independence.
More Quotes from Vaughn Cordle:
Not even Jack Welch, the greatest CEO of all time, could earn a normal profit in the airline industry, given today's condition,Vaughn Cordle
American will have a tough time in 2006, it all depends where the price of oil goes.
Vaughn Cordle
They have a right to be upset, because what management is proposing is quite dramatic.
Vaughn Cordle
It's offsetting all the good progress American and the other airlines are making on their non-fuel costs, specifically in labor.
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They had no choice. If they didn't agree to it, a bankruptcy judge would impose it. It's in management's best interest - and the pilots - to have everyone agree to the cuts so they don't have morale problems.
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You have an entirely different industry with oil below 50 a barrel and with oil above 60.
Vaughn Cordle
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