American Airlines' bankruptcy comes late
When American Airlines parent AMR filed for bankruptcy on Tuesday, the biggest question wasn't how could this happen, but why didn't it happen sooner?
As the last of the so-called legacy carriers to seek court protection from creditors, AMR has for years operated with higher labor costs and debt than its peers. It's on track to post its fourth straight annual loss, estimated to be $1.2 billion in 2011, while United Continental and Delta managed to make money in the first nine months of
As the last of the so-called legacy carriers to seek court protection from creditors, AMR has for years operated with higher labor costs and debt than its peers. It's on track to post its fourth straight annual loss, estimated to be $1.2 billion in 2011, while United Continental and Delta managed to make money in the first nine months of
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