4 out of 4 stars
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Twelve Years of Turbulence by Gary Kennedy, with Terry Maxon, is a nonfiction about the financial upheaval in American Airlines between 2001 and 2013. American Airlines, the world’s largest airline, is headquartered in Fort Worth, Texas, United States. In the year 2001, this airline got into a financial crisis due to an ill-timed airline acquisition, a recession, and the September 11 attacks, which involved the hijacking of two American Airlines' aircraft by terrorists that later crashed one of the planes into the Pentagon and the other one into the World Trade Center.
Gary Kennedy, who had been the vice president of the airline’s real estate and construction department, was appointed as a general counsel, in 2003, to lead the company’s legal affairs. His first task was to prepare the required papers to place America Airlines and its parent company, AMR Corporation, into bankruptcy. In much depth, this book unveils the corporate battle Gary and other senior executives fought to ensure the airline did not file for bankruptcy and how the company’s monetary situation improved afterward. Extensively, Gary narrates how the company got into another bankruptcy ordeal in 2011, and eventually, in 2013, after many hassles, AMR Corporation, parent of American Airlines, and US Airways Group, parent of US Airways, became a single corporate entity known as the American Airlines Group.
Interestingly, this narrative gives insight into the above-named airline's financial challenges, the acrimonious relationship between its management and labor leaders, bankruptcy proceedings, and mergers and acquisitions processes in the selected years. This business-related book is fast paced and engaging. Though it’s not written entertainingly, it’s very informative and expository. Being easy to read and fascinating, it's a lively and useful read for corporate executives and laymen. Besides the ups and downs of the American Airlines' business, the narration includes some United States aviation history, such as the processes involved in the elimination of the flight restrictions at Dallas Love Field and the wrongful death lawsuits that were filed against American Airlines and Airbus by some grieving families after the crash of Flight 587 in New York City in 2001.
Above all, this eye-opening publication has acquainted me with the aviation industry in the United States, and the corporate governance of American Airlines particularly. I like the authors’ use of dates to emphasize the passage of time between the events. This feature makes the narration clearer for readers. Comprising corporate procedures like financial management, handling management and employees compensation, and business planning, this narrative is a treasure chest for any business executive. Elaborately, It makes visible the strength and resilience of the senior executives of the airline. Just enough details are provided about Gary, the main character, and the other personae. They are all energetic, determined, and committed to results.
In conclusion, being enlightening, this write-up will enhance a reader’s understanding of the aviation world. For certain, the text was professionally edited. I didn’t find any typos or grammatical errors. In addition, I like the book's cover. It’s appealing and it gives a hint of what it covers. With satisfaction, I rate this book 4 out of 4 stars and recommend it for lawyers, judges, financial advisors, entrepreneurs, and anyone curious about life in the United States aviation industry.
Twelve Years of Turbulence
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