American Airlines Bankrupt

The parent companies of American Airlines and its regional affiliate American Eagle are filing for Ch. 11 bankruptcy protection.

AMR Corp. and AMR Eagle Holding Corp. said Tuesday that they filed voluntary petitions to reorganize, saying it's in the best interest of the companies and its shareholders.

American says it sought protection to reduce its costs and debt to remain competitive in the airline industry.

American was the only major U.S. airline that didn't file for bankruptcy protection after the 2001 terrorist attacks.

American says labor-contract rules force it to spend at least $600 million more than other airlines.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Mayhem Location: Washington on Nov 29, 2011 at 10:00 AM
    What? No obama bailout? Excellent!
  • by Russ Location: Henderson on Nov 29, 2011 at 09:06 AM
    Thank the union.
  • by Dark Horse on Nov 29, 2011 at 07:08 AM
    How many times has AMR filed for bankruptcy? No bailouts. Let it fail.
  • by Southwest on Nov 29, 2011 at 04:59 AM
    The government better not bailout this airline that is controlled by unions. They did this to themselves and should suffer. American Airlines is lousy with service as well.
    • reply
      by American on Nov 29, 2011 at 06:23 AM in reply to Southwest
      Since it is "American" airlines, I doubt there is a worry about a bailout, their name alone will bar them from any Obama help!
  • by Southwest on Nov 29, 2011 at 04:59 AM
    The government better not bailout this airline that is controlled by unions. They did this to themselves and should suffer. American Airlines is lousy with service as well.
    • reply
      by libr job on Nov 29, 2011 at 05:35 AM in reply to Southwest
      Are "Gov Motors" and "CRY-sler" workers not union workers? Me thinks they are...where do we draw the line?
      • reply
        by I Fought the Law on Nov 29, 2011 at 06:30 AM in reply to libr job
        We start drawing the line when they can't make it on their own...that goes for ANY COMPANY. The idea that the guberment should bail out private industry is hogwash. Swim on your own or sink like a rock because someone else with more know-how WILL come along....it's called free enterprise.
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