American Airlines parent company files Chapter 11
AMR Corp., which owns American Airlines American Eagle, has filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
"This was a difficult decision, but it is the necessary and right path for us to take - and take now - to become a more efficient, financially stronger, and competitive airline," Thomas W. Horton, chairman, CEO and president of AMR and American Airlines, said in a news release.
"We have met our challenges head on, taking all possible action to secure our long-term position," Horton added. "In recent years, even as the airline industry faced unprecedented challenges, American strengthened our domestic and global network; fortified our alliances with the best partners around the world; launched a transformational fleet deal that will give American the youngest and most efficient fleet in the industry; and invested in our product, service and technology to build a world class customer experience."
Both American and American Eagle continue to operate normal schedules, but Bloomberg reported that American might eventually trim some flights during a reorganization.
"Throughout the restructuring process, as always, our customers remain our top priority and they can continue to depend on us for the safe, reliable travel and high quality service they know and expect from us," Horton said. "We intend to maintain a strong presence in domestic and international markets, including our cornerstones in Dallas/Fort Worth, Chicago, New York, Miami and Los Angeles. As we and all airlines routinely do, we will continue to evaluate our operations and service, assuring that our network is as efficient and productive as possible."
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