41 Quotes by Gerard Arpey

However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.

The executive moves we are announcing today will strengthen American for the long-term future and reflect well on the depth of the Company's management team.

Despite the painful changes we have had to make, we continue to believe in the St. Louis market. And we are hoping to add flights, in a careful way, as the economics of our business improve and the demands of the traveling public in St. Louis become clear.

Just to cover the increase in fuel costs over the past two years, American would have had to raise fares nearly $75 per round-trip ticket. During this time period, our average fare increased by only $15.

One of our most difficult realizations was that - in the course of two years - a connecting hub in St. Louis had gone from something we thought we needed to something we could no longer afford.

Our planes should be full, which among other things means we have a golden opportunity... to build on the momentum reflected in the financial results we are reporting today.

That doesn't mean you have to have the lowest costs in the industry to succeed. But you need to make sure the activities and product attributes that increase your costs above the other guy bring in at least that much more in revenue, and hopefully more.

But I don't think the popularity of flying has diminished a bit.

I think in just about any business the low cost competitor is always going to have an advantage.