What AMR Says About the Economy
A big problem for American and other airlines is that corporate travel has fallen off a cliff. Horton said the drop in corporate travel revenue was "significantly more" than the 15% drop in overall revenue. In particular, transatlantic travel fell nearly 18%, driven largely by weak corporate demand, Horton said. That could portend problems for Continental (CAL) and Delta (DAL), both major transatlantic carriers who report next week.Arpey noted that "corporations travel for a reason. Travel is integral to what many companies do in our country. Therefore, I think if we can get the economy stabilized and improving, companies can turn the travel back on just as quickly as they've turned it off."
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