According to reports out today, American Airlines’ parent company, AMR Corp., announced it has filed for Chapter 11 bankruptcy protection. Consumers who purchased tickets for American Airlines and American will be able to use them through the bankruptcy filing process.
The filing comes just before the holiday travel season which may cause a bit of panic. In a statement released by AMR, they say they would like 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”.
This is the last U.S. airline to file for bankruptcy, which is surprising, since they charge for EVERYTHING and have already cut many services. What do they do with all their money? The prices continue to rise and they keep going broke? Let’s hope they hang on…