AMR, the parent company of American Airlines, announce on Tuesday November 29th, 2011 that it had filed for bankruptcy protection in whole effort to reduce the cost of labor and to minimize the heavy debt burden.
American Airlines was the last major legacy United States Airlines to file for Chapter 11. The company announced that it will operate normally, therefore not affecting any of their flights or reward programs. Given its shaky financial situation over the past year there has been wide speculation about a bankruptcy announcement. Stay tuned to the Airport Chatter blog for more announcements about the latest in the American Airlines bankruptcy case.