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On November 29, 2011 AMR Corporation filed for Chapter 11 bankruptcy protection. 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. American Airlines stated that despite the filing it was continuing normal operations. Analysts have speculated that following bankruptcy American is likely to merge with US Airways being the likely candidate.
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Quick Tip by . November 30, 2011
posted in UP UP & Away!
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Not a huge fan of American Airlines (see my review), but it's still sad to see a business struggling.  Hope that with this filing, they'll come back better and stronger, but in this economy, it's hard to tell what's going to happen.
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American Airlines Bankruptcy Filing
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