American is famously still the only one of the US majors not to have resorted to Chapter 11 to sort out its problems over the years, and analysts have always had mixed views as to whether that was smart or not.
I’ve been struck by two things about it: the detectable pride that many in the company take in that record, but also the continuously abrasive labour relations that seem to be a fact of life at American. How management there has the stamina for it I don’t know. (I wrote about this before.)
Nevertheless, CEO Gerard Arpey has never expressed any regrets about the strategy and he’s just taken the chance to not do so again in a speech at a Dallas Business Journal event carried in full at the Fort Worth Star-Telegram’s Sky Talk blog.