🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

American Airlines CEO defends JetBlue alliance in antitrust trial

Published 10/03/2022, 11:26 AM
Updated 10/03/2022, 02:04 PM
© Reuters. FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike Blake/File Photo
JBLU
-
AAL
-

By Diane Bartz and David Shepardson

WASHINGTON (Reuters) -The head of American Airlines (NASDAQ:AAL) Group denied Monday that his company's alliance with JetBlue Airways (NASDAQ:JBLU) Corp meant that the two airlines had created a de facto merger in the northeastern United States.

Chief Executive Robert Isom, testifying in an antitrust trial in Boston, pushed back against assertions that the companies acted as a single airline in Boston and the New York area following creation of their Northeast Alliance in 2020. The Justice Department has asked a judge to order it undone.

Justice Department attorney Bill Jones said that in the four airports covered by the alliance, customers would view JetBlue and American as a single company.

"No, that's not true," Isom said quickly. "We have our own gate. We have our own planes. We have our own services that make us distinct."

Isom also testified that he had been concerned about competition from Delta and United, particularly in Boston and the New York area.

And he took issue with suggestions that American, the world's largest airline, could have expanded without JetBlue.

The Justice Department's Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers."

The U.S. Justice Department, six states and the District of Columbia have called the alliance a "de facto merger" of the companies' Boston and New York operations, in which they coordinate flights and pool revenue to the detriment of travelers, which it argues face $700 million in extra annual costs.

Isom was pressed on a March 2020 email he sent recounting a conversation with former Delta Chief Executive Richard Anderson about the massive falloff in travel demand from the COVID-19 pandemic.

Isom's email said there was agreement the "industry is going to have to shed a tremendous amount of capacity -- turning the dial back 5 years as a guide to what 2021 looks like."

© Reuters. FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike Blake/File Photo

Congress awarded $54 billion to U.S. airlines in payroll assistance through September 2021 that prevented many significant cuts the industry had forecast.

U.S. District Judge Leo Sorokin, in Boston, will decide the case.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.