American Airlines

Bankruptcy Judge Denies AMR’s Request to Reject Pilot Contracts

(Reuters) – A U.S. judge on Wednesday, August 15, denied a request by American Airlines’ parent AMR Corp. to abandon collective bargaining agreements with its pilots’ union, despite AMR’s goal to save more than $1 billion a year in labor costs. Judge Sean… Read More ›

Business Bankruptcy Filings Are Down Substantially

It appears that businesses are not filing bankruptcy at a pace that was predicted earlier this year, after Kodak and Hostess filed their bankruptcy cases, and following AMR‘s fourth quarter filing in 2011.  See Where Are the Tidal Waves of Chapter 11… Read More ›

American Airlines Seeks to Cut Retiree Benefits

AMR Corporation, the parent of American Airlines, has sought court permission to reduce retiree health benefits and impose out-of-pocket costs for access to certain other health coverage.  The Airline announced that it would discontinue retiree life insurance and would end… Read More ›

AMR Preserves Right to Propose Plan of Reorganization

On March 22, 2012, American Airlines, which filed bankruptcy on November 29, 2011, obtained bankruptcy court approval to extend its exclusive right to file a plan of reorganization until September 28, 2012. Under section 1121 of the Bankruptcy Code, a… Read More ›

American Airlines Plans to Grow Out of Bankruptcy

AMR Corp., which filed bankruptcy in December 2011, recently announced the deep cuts that most consultants had long predicted. AMR said it is eliminating 13,000 jobs, terminating its four pension plans, grounding older planes and restructuring supplier contracts, in hopes… Read More ›

Where Are the Bankruptcy Filings (Part II)?

The 4th quarter of 2011 was the quarter of massive bankruptcies. A variety of economic pressures, such as decreased demand, the impact of rising commodity prices, and concern over the Euro zone contagion, became too much for even some of… Read More ›