American Airlines files for bankruptcy; plans to cut drastically labour costs

Tuesday, November 29th 2011 - 17:11 UTC

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American Airlines and its parent company AMR Corp filed for bankruptcy on Tuesday after failing to win a labour deal with pilots and suffering from mounting fuel costs. Read full article

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GeoffWard2
Does a 'Chapter 11 bankruptcy' mean that
competitor airlines can bid and but for the rock-bottom price?
Or does it mean that the airline can restructure, divest, etc, without the added complication of aggressive take-over?
Nov 30th, 2011 - 01:13 pm - Link - Report abuse 0
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