By Marcus Leach
American Airlines, Inc. announced that its parent company, AMR Corporation, and certain United States-based subsidiaries today (Tuesday) voluntarily filed for Chapter 11 reorganisation under United States law.
American Airlines took this action in order to achieve a cost and debt structure that is competitive in the airline industry so that it can continue delivering a world-class travel experience for its customers.
American Airlines expects to continue normal business operations throughout the reorganisation process, and the business will continue to be operated by the Company's management. The United States Chapter 11 reorganisation process enables a company to maintain normal business operations while it establishes a competitive cost and debt structure. This action has no direct legal impact on any American Airlines operations outside the United States.
American Airlines is operating normal flight schedules, honoring tickets and reservations as usual, and making normal refunds and exchanges.
"American's customers are always our top priority and they can continue to depend on us for the safe, reliable travel and high quality service they know and expect from us," said Thomas W. Horton, Chairman, Chief Executive Officer and President of AMR and American Airlines.
"American serves 260 airports in more than 50 countries and territories, and we are committed to maintaining a strong presence in worldwide markets. I am confident American will emerge even stronger as a global leader known for excellence and innovation, a travel partner customers seek out, and a carrier that serves communities throughout the world."
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