AMERICAN AIRLINES FILES 4 BANKRUPTCY:
"American Airlines and its parent company AMR Corp ( AMR.N) filed for bankruptcy on Tuesday after failing to win a labour deal with pilots and suffering from mounting fuel costs. AMR had been the only major U.S. carrier to avoid bankruptcy in the past decade. Its rivals used bankruptcy to restructure their labour agreements and cut costs. That left AMR, the third-largest U.S. airline behind United Continenta Holdings Inc ( UAL.N) and Delta Air Lines Inc ( DAL.N), with the highest abour costs in the industry and the only major airline still funding worker pensions."It completes the cycle," said Helane Becker, an analyst with Dahlman Rose & Co. "Every major airline in the united States has filed for Chapter 11." AMR's move comes as U.S. airlines brace for an economic downturn that could see travel demand sag this year. Some top airlines, including AMR, have announced service ..."
http://www.reuters.com/article/2011/11/29/uk-americanairlines-idUSLNE7AS03U20111129
