American Airlines Files for Bankruptcy
Another airline is in over their heads. American Airlines announced today that in an effort to achieve a competitive cost and debt structure and assure their long-term viability, that they are filing for bunkruptcy.
Will it affect any flights you have booked with American Airlines? Supposedly not. They say that business will continue as usual while they complete the chapter 11 process.
On November 29, 2011, AMR Corporation, the parent company of American Airlines and American Eagle, and certain of our U.S.-based subsidiaries (including American and American Eagle) filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
American Airlines and American Eagle will still be operating normal flight schedules and all aspects of their business should continue as normal. According to their press release, they expect to continue to:
- Provide safe and reliable service
- Fly normal schedules
- Honor tickets and reservations, and make exchanges and refunds as usual
- Fully maintain our AAdvantage frequent – flyer and other customer service programs, and ensure all AAdvantage miles and elites status earned by members remain secure and intact
- Provide Admirals Club access and similar amenities to members and eligible customers
- Remain an integral member of the oneworld alliance, of which American is a founding member, and continue our codeshare partnerships
- Provide employee wages, healthcare coverage, vacation, and other benefits, without interruption
- Pay suppliers for goods and services received during the reorganization process
American Airlines currently operates a number of flights in and out of Denver International Airport, Colorado Springs, Aspen, Durango, Eagle County, Grand Junction, Gunnison, Steamboat Springs, Montrose, Cheyenne, and Jackson Hole.
Photo by ReneS, Flickr