American Airlines Files Chapter 11 Bankruptcy


More bad news for the economy … American Airlines files chapter 11 bankruptcy.

American Airlines’ parent company is seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt built up by years of accelerating jet fuel prices and labor struggles.

The nation’s third largest airline also said its CEO Gerard Arpey will step down. He’s being replaced by Thomas Horton, currently the company’s president.

Fort Worth, Texas-based AMR Corp., along with its regional affiliate AMR Eagle Holding Corp. said Tuesday that they filed voluntary petitions to reorganize.

Posted November 29, 2011 by
Economy | one comment

If you liked this post, you may also like these:

  • The Teflon Victim: Casey Anthony Files for Chapter 7 Bankruptcy in Florida Owing Nearly $800,000 in Debt
  • City of Detroit Declares Bankruptcy
  • Another Obama Green Energy Company Bites the Dust … Solar Trust Files Bankruptcy … Tax Payers Out Billions
  • Electric Car Maker Coda Files For Bankruptcy
  • Atari US Operations, the Original Gaming Company that Brought Us Pong & Asteroids Files for Bankruptcy

  • Comments

    One Response to “American Airlines Files Chapter 11 Bankruptcy”

    1. Miklo on November 29th, 2011 12:20 pm

      This is just paper shuffling…

      AA declares bankruptcy every now and then just to reshuffle the deck.

      They chose to file before the close of 2011.

      Legally, they had to disclose the reorganization effort but it will make little if no difference to business as usual.

    Leave a Reply

    Support Scared Monkeys! make a donation.

    • NEWS (breaking news alerts or news tips)
    • Red (comments)
    • Dugga (technical issues)
    • Dana (radio show comments)
    • Klaasend (blog and forum issues)
    E-mail It