Nov 29, 2011, 11:23 AM
|
|
Admin
|
|
Join Date: May 2007
Posts: 198
|
|
American Airlines files for bankruptcy
Quote:
NEW YORK (CNNMoney) -- American Airlines' parent company, AMR Corp., announced Tuesday that it has filed for chapter 11 bankruptcy.
The decision comes as the airline tries to "achieve a cost and debt structure that is industry competitive and thereby assure its long-term viability and ability to continue delivering a world-class travel experience for its customers," the company said in a statement Tuesday.
AMR (AMR, Fortune 500) said American Airlines, American Eagle and all other subsidiaries will honor all tickets and reservations and operate normal flight schedules during the bankruptcy filing process, using its $4.1 billion in cash
|
Source.
|