AMR, parent company of American Airlines, filed for bankruptcy protection Tuesday morning in New York. American was the only legacy carrier not to have filed bankruptcy in the last couple of decades.
The heavy load debt, pension obligations, unfavorable leases, and labor contracts have taken their toll on the thrid largest carrier in the U.S.
Travelers should not see any changes however. American will continue to operate, and all mileage benefits will continue to accrue and will be honored.
American's necessary move will mean a leaner and smaller carrier in 2012.
www.premieretravel.com
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