AMR Corporation, the parent company of American Airlines and AMR Eagle Holding Corporation, announced it filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
AMR’s board of directors determined that a Chapter 11 reorganization is in the best interest of the Company and its stakeholders. The Chapter 11 process enables American Airlines and American Eagle to continue conducting normal business operations while they restructure their debt, costs and other obligations.
American Airlines and American Eagle are operating normal flight schedules, and their reservations, customer service, AAdvantage program, Admirals Clubs and all other operations are conducting business as usual. American and American Eagle expect to continue normal operations throughout the Chapter 11 process.
The board of directors of AMR Corporation also named Thomas W. Horton chairman and chief executive officer, succeeding Gerard Arpey, who informed the board of his decision to retire on Nov. 28. Horton will continue to serve as president of AMR and American.
Source: AMR Corporation
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