American Airlines CEO has told employees that the airline has taken out a $1 billion loan “to strengthen our balance sheet,” according to an email sent to employees obtained by CNN.
"Doug remains in Washington, DC, along with other airline CEOs, making the case for an aid package. Team member needs and our future are at the forefront of his motivation as he does this work, and more information will be coming soon," the aid request stated while referring to CEO Doug Parker.
Earlier today: American Airlines said it was grounding nearly half of its fleet and canceling 55,000 flights next month, according to an internal message sent to employees obtained by CNN.
The airline also expects “demand to fall even more before it gets better," the message stated.
The striking numbers in an internal email from American Airlines President Robert Isom include a reduction of international flights by 75% and domestic flights by 30% in April, “with plans to reduce it even further in May.”