FORT WORTH, Texas—American Airlines pilots and flight attendants are taking their protest against management to the shareholders who own the company.

Hundreds of airline workers took part in a union-organized protest Wednesday outside the hall where shareholders of AMR Corp. were scheduled to meet.

The unions are unhappy because there’s been little progress in negotiations for new contracts, while several hundred managers up to the CEO got stock-based bonuses last month.

The flight attendants union is calling on the airline’s top officials to resign for accepting the stock, which the company considers part of executive pay. The pilots union blames management for the grounding of about 3,300 flights last month after federal regulators forced the company to redo electrical wiring on many planes.

“We’ve got to change course. This isn’t working,” said Lloyd Hill, president of the pilots’ union, which blames management for ills ranging from parts shortages to low employee morale. “Maybe American Airlines could start by treating employees as allies, not adversaries.”

A spokesman for the airline, Allan Koenig, said American recognized unions’ right to conduct the demonstration outside the meeting.

“We look forward to reaching new agreements with our unions as soon as possible and remain committed to offering proposals that both strengthen the airline and resolve issues that are important to our employees,” he said.

Shareholders expected to hear Chairman and Chief Executive Gerard J. Arpey discuss how the nation’s largest airline will deal with record high fuel prices and a slowing economy that could hurt demand for travel.

Fort Worth-based AMR, which also owns the American Eagle commuter airline, earned $504 million last year, its second straight profitable year after it lost more than $8 billion in the previous five years.

But the company lost $328 million in the first three months of 2008, as spending on jet fuel increased $665 million, or 45 percent.

Shareholders have taken their lumps too, even while AMR was making money. AMR’s stock has fallen 69 percent since shareholders last met in May 2007.

Southwest Airlines Co. shareholders scheduled to meet later Wednesday in Dallas. Southwest was the only major U.S. carrier to post a profit in the first quarter, but high fuel costs are taking a toll on that carrier too.