Caribbean Press Releases - recent news & press releases - http://www.caribbeanpressreleases.com
American Airlines Files for Chapter 11
http://www.caribbeanpressreleases.com/articles/8946/1/American-Airlines-Files-for-Chapter-11/Page1.html
S Coward

 
By S Coward
Published on 29-Nov-11
 

Nov. 29, 2011 - AMR Corporation ("the Company"), the parent company of American Airlines, Inc. ("American") and AMR Eagle Holding Corporation ("American Eagle"), ....today filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.

Nov. 29, 2011 -  AMR Corporation ("the Company"), the parent company of American Airlines, Inc. ("American") and AMR Eagle Holding Corporation ("American Eagle"), announced that in order to achieve a cost and debt structure that is industry competitive and thereby assure its long-term viability and ability to continue delivering a world-class travel experience for its customers, the Company and certain of its U.S.-based subsidiaries (including American and American Eagle), today filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.

AMR's Board of Directors determined that a Chapter 11 reorganization is in the best interest of the Company and its stakeholders. Just as with the Company's major airline competitors in recent years, the Chapter 11 process enables American Airlines and American Eagle to continue conducting normal business operations while they restructure their debt, costs and other obligations.

American Airlines and American Eagle are operating normal flight schedules today, and their reservations, customer service, AAdvantage® program, Admirals Clubs and all other operations are conducting business as usual. Likewise, throughout the Chapter 11 process, American and American Eagle expect to continue to:

  • Provide safe and reliable service;
  • Fly normal schedules;
  • Honor tickets and reservations, and make exchanges and refunds as usual;
  • Fully maintain AAdvantage frequent flyer and other customer service programs, and ensure all AAdvantage miles and elites status earned by members remain secure and intact;
  • Provide Admirals Club access and similar amenities to members and eligible customers;
  • Remain an integral member of the oneworld® alliance, of which American is a founding member, and continue its codeshare partnerships;
  • Provide employee wages, healthcare coverage, vacation, and other benefits, without interruption; and
  • Pay suppliers for goods and services received during the reorganization process.
These filings have no direct legal impact on American's operations outside the United States.