It can’t be fun to be American Airlines (NASDAQ: AAL) CEO Doug Parker right now. His company has experienced massive nonfuel cost increases over the past few years. Now that the carrier is finally reining in controllable costs, fuel prices have surged, creating a new headache. Meanwhile, American has the weakest balance sheet of any major U.S. airline.
At a major industry event last week, Parker reiterated his stance that industry capacity growth will slow and airfares will rise to offset the increase in fuel costs. However, he acknowledged that this process wasn’t likely to play out right away.
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Is American Airlines in a mess?
