American Airlines Parent. Files for Bankruptcy Protection

[Stu]

AMR Corp, the parent company of American Airlines, filed for voluntary Chapter 11 bankruptcy protection in a New York court on Tuesday.

The company listed assets of about $24.72 billion, while it has liabilities of $29.55 billion. The company said it has $4.1 billion in cash. It also said it is not considering debtor-in-possession financing.

[Stu]

More news at Bloomberg HERE

[border terrier]

Just been reading about this hope everyone who has booked with them will be ok.

[gavinbrad]

Everyone who has flights should be ok.

Chapter 11 is a protection that allows a company to continue trading, but receive protection.

Fingers crossed for all.

[Funkymum]

OMG 15 days til we fly with American Airlines, we had 15 days to fly with XL airways when they went bust

[JAF]

In the past most of the big American airlines have filed Chapter 11 and still flying an example being Delta. It is an easy way for them to restructure and lowers the risk of going out of business.

[Kim]

Originally Posted by Funkymum

OMG 15 days til we fly with American Airlines, we had 15 days to fly with XL airways when they went bust

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Don't panic. They are not going bust.

Kim

[Merlins dad]

Originally Posted by Funkymum

OMG 15 days til we fly with American Airlines, we had 15 days to fly with XL airways when they went bust

See more...

note to self... don't book same flights as FunkyMum

[Orlando_Kings]

Originally Posted by JAF

In the past most of the big American airlines have filed Chapter 11 and still flying an example being Delta. It is an easy way for them to restructure and lowers the risk of going out of business.

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Fully agree here, as I recall Delta & US Airways going through the same process 2 or 3 years back

[Funkymum]

Originally Posted by Merlins dad

note to self... don't book same flights as FunkyMum

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Thanks my hubby said he's booking the flights next time lol