American Airlines Files for Bankruptcy
Wednesday, 30 November 2011 07:31
'One of the last major airline companies to file bankruptcy says it has done so to reduce its labor costs and restore profitability, The New York Times reported.
“Our board decided that it was necessary to take this step now to restore the company's profitability, operating flexibility and financial strength,” the company's new chairman and chief executive Thomas W. Horton said in a Tuesday statement.'
Read more: American Airlines Files for Bankruptcy
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