American Airlines parent company lose $328 million so far this year

The parent company of American Airlines lost $328 million in the first quarter of 2008 as they paid $665 million more for fuel than in the first quarter of 2007. They plan to cut flying by 1.5% this year to save on flights that are not profitable at current fuel costs.

Previously they had expected to increase flying by 0.2% this year. American controls more than 60% of the passenger traffic at Miami International Airport and has also announced a hiring freeze for management and support workers.