American Airlines Files For Bankruptcy (w DOCUMENTS)
By: Stephanie Sobic
Updated: November 29, 2011
NEW YORK -- The parent company of American Airlines is filing for Chapter 11 bankruptcy protection.
AMR Corporation says American Airlines, American Eagle and its other subsidiaries will honor all tickets and reservations and operate normal flight schedules.
AMR was the only major U.S. carrier to avoid bankruptcy in the past decade. The company recently failed to reach an agreement with its pilots to cut labor costs.
AMR stock has fallen more than 80 percent.
AMR Corporation says American Airlines, American Eagle and its other subsidiaries will honor all tickets and reservations and operate normal flight schedules.
AMR was the only major U.S. carrier to avoid bankruptcy in the past decade. The company recently failed to reach an agreement with its pilots to cut labor costs.
AMR stock has fallen more than 80 percent.
