American Airlines expects passengers to pack its flights this summer, but the nation's largest carrier must cut more than $1 billion in expenses to offset the rising cost of fuel, Chief Executive Gerard Arpey said Wednesday.
Arpey said the company hoped to offset higher costs by raising $300 million in extra revenue, partly from fees on everything from curbside check-in to booking a flight over the phone.
The rest will have to come from greater efficiency and cost cutting, but Arpey offered few details. He declined to say whether the airline would seek a new round of wage cuts from union employees.
Arpey made the comments at the annual shareholder meeting of parent AMR Corp., which lost $861 million last year.
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