Saturday October 31, 2020

American Airlines files for bankruptcy

UPDATE: American Airlines has filed for bankruptcy, but says operations are continuing as normal.

29th November, 2011
2
Tom Horton, American Airlines

The parent company of airline American Airlines, the third largest in the US, has filed for bankruptcy in New York, citing untenable costs.

In a statement the AMR group said the move was necessary "to achieve a cost and debt structure that is industry competitive and thereby assure its long term viability."

"This is a difficult decision but it is the necessary and the right path for us to take," said Thomas Horton, chairman and...

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