NEW YORK ( TheStreet) --Speaking to an investor conference on Thursday, American Airlines ( AAL) Chief Financial Officer Derek Kerr seemed to say that the airline's management team, which took over in 2013, is just getting started on the changes it wants to make.
So far, Kerr said "the focus has been on integrating the airline and not necessarily efficiency projects." He noted, "We need to invest in product, that hasn't been done for a long time." He said prior management "made no investment in equipment, no investment in anything (because) of bankruptcy in the past few years."
He also said American's operating efficiency is not yet where it should be. "US Airways operations are running strong. We need to get the mentality of US Airways operations into American Airlines operations," he said. "If we do not run an operation and run it correctly, we know we will lose passengers."
Additionally, like Maya Leibman, American's chief information officer, who spoke to reporters on Monday, Kerr made it clear that for the moment management has dropped everything, to the extent possible, to be sure it can avoid a repeat of a mistake it made in 2007 when it botched a reservations transition after a merger.
CEO Doug Parker "has been pounding the drum, 'We can't be complacent,'" Leibman said. "We have to be paranoid about every single thing that can possibly go wrong. There's 10 million other things we'd love to be doing, (but) we are setting that stuff to the side right now."