American Airlines is sorry, okay? After instituting a booking policy that rubbed many passengers the wrong way, the carrier has seen a dive in profits—and is now walking back the controversial strategy for fear of further hemorrhaging dollars.
The world’s second-largest airline is basically standing outside annoyed travel agents’ windows with a boom box asking for another chance after bungling it up. It can’t afford not to, as its net income in the just-ended second quarter has slipped by 46% to $717 million from a year ago. While the airline has seen record revenue this past quarter, the CEO acknowledges that they’re off target for a couple of reasons.
