29 Nov '11, 2pm

American Airlines files for bankruptcy protection

American Airlines files for bankruptcy protection

The parent companies of American Airlines and its regional affiliate American Eagle are filing for bankruptcy protection. -- PHOTO: AP FORT WORTH, Texas (AP) - The parent companies of American Airlines and its regional affiliate American Eagle are filing for bankruptcy protection. AMR Corp and AMR Eagle Holding Corp said on Tuesday that they filed voluntary petitions to reorganise, 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 United States airline that didn't file for bankruptcy protection after the 2001 terrorist attacks. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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