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American Airlines Parent AMR Files for Bankruptcy

| November 29, 2011 | 27 Comments
American Airlines MD-80 DFW

An American Airlines MD-80 Takes Off at Dallas Ft Worth Airport

American Airline’s parent corporation AMR filed for Chapter 11 bankruptcy protection in a New York court early Tuesday. AMR has lost over $10 Billion since 2001 citing rising fuel costs and overall cost of operation increases.

While some analysts are surprised at the bankruptcy filing (AMR holds more than $4 Billion in cash) there had been wide speculation that they would indeed make the move to restructure due to their stock price plummeting.

American says their flight schedule may be cut a small amount, but that it will be nothing significant:

“We may trim the schedule a bit, but it will be modest.”

American could strongly consider a merger partner (like Delta and United have done) with US Airways being a possible suitor.

American’s full release here

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