'It's become clear that more is needed': American takes action amid coronavirus crisis

American Airlines is taking additional steps to counteract the devastating effect the coronavirus is having on commercial air travel. American Airlines Group, Inc. (Nasdaq: AAL) will defer annual pay increases for leadership until August, accelerate the retirement of older aircraft, and slash international capacity this summer by 34 percent across its network. Additionally, the company will defer new hire classes for pilots, flight attendants, reservations and maintenance employees. The company…