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American Airlines Files for Bankruptcy
American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S. With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth, Texas-based company, which traces its roots to 1920s air- mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in… (www.bloomberg.com) Más...Im new in flight aware
Bankruptcy does not mean American is going to disappear. Every US legacy carrier has been through bankruptcy since 9/11 except for American, some even more than once. Unfortunately that put American at a competitive disadvantage, since the other airlines had been able to cast aside much of their debt obligations. I would expect to see American emerge from bankruptcy a stronger airline.
Continental did not go through bankruptcy post-9/11.
No but it did go through it a few years back
I thought they went through Chapter 33- Chapter 11 three times!
Which is post 9/11...