Byline: Associated Press
American Airlines on Wednesday announced a slowdown in the top U.S. carrier's rapid expansion pace, illustrating the industry's financial pain and sending a chill through the world of aircraft manufacturing.
"Profits simply aren't what they need to be," said Robert L. Crandall, chairman of the airline's parent, AMR Corp.
Crandall told securities analysts in New York he was planning cutbacks of $400 million over the next two years and more than $500 million over five years. He did not say where all the cuts will be made, but one big item will be reduced spending on aircraft.
"We're looking at food, advertising - …
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