Ted Reed > Quotes

“The bankruptcy plan had three principal components: It would boost revenue, largely because a new fleet would enable it to serve more markets with newer airplanes. AA would rid itself of restrictive scope provisions in the pilot contract, so that it could operate more regional jets and engage in more codesharing, particularly with JetBlue at New York Kennedy Airport. And it would reduce labor costs through 13,000 layoffs—including 9,000 among TWU workers. Combined, the improvements were valued at $3 billion by 2017, including $1.25 billion in employee cost savings, resulting from a 20 percent reduction in costs for each work group.”
― Ted Reed, American Airlines, US Airways and the Creation of the World's Largest Airline