Tom Horton, CEO of American Airlines parent AMR Corp., said yesterday that the airline is nearing the end of its bankruptcy restructuring and is benefiting from cost savings and getting a boost to revenue from its fleet and product upgrades and international expansion, the Wall Street Journal reported yesterday. After AMR posted its first second-quarter profit since 2007, Horton said that further cost savings and revenue improvements will kick in over the coming months based on expected labor productivity gains, new vendor and supplier contracts and the introduction of larger regional jets. So far, the company has extracted about 80 percent of the cost savings it expected to capture in bankruptcy, where it landed in late 2011, Horton said. Read more.
