American Airlines will be in a 'better environment' in six months: CEO

28 October, 2020

American Airlines Group chairman and CEO Doug Parker said the carrier "remain[s] hopeful" that elected officials will agree on an extension of the Payroll Support Program (PSP) (Seeking Alpha, 22-Oct-2020). He explained the PSP is "not about getting money into airlines", but rather "making sure that critical infrastructure stays in place". As such, he noted that "absent an extension you will see some of that infrastructure decline, and as the economy looks to rebound, we won't be prepared as well as we should be to facilitate that rebound". Mr Parker said the carrier is witnessing "gradual return of revenues", adding: "I think six months from now, certainly you'll see a better environment than we have today irrespective of what may or may not have happened as it relates to the pandemic itself, because people are getting more and more comfortable with travel and cities are opening up and business is returning somewhat". However, he noted the carrier is "not going to be in a good position to do what people want us to do" without an extension of the PSP.