American Airlines Files for Bankruptcy Protection

plane in flight 150x150 American Airlines Files for Bankruptcy ProtectionAMR Corp., along with its regional affiliate AMR Eagle Holding Corp., announced today that they filed Chapter 11 bankruptcy protection.

American Airlines looks to get rid of massive debt that has collected over years of surging fuel prices and labor struggles, according to the Detroit News.

American is the only major U.S. airline that hasn’t already filed for bankruptcy protection after the 2001 terrorist attack.

The airline said it will continue to offer flights, honor tickets and take reservations.

Read more: http://www.detnews.com/article/20111129/BIZ/111290387/1001/American-Airlines-files-for-Ch.-11-protection

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