US airline lands in bankruptcy

The parent company of American Airlines, AMR, has filed for protection from its creditors while it restructures. But will it be able to slash costs enough to survive?

AMR, the parent company of American Airlines, has filed for bankruptcy. Unlike its rivals Continental, Delta and US Airways, America's third-largest airline had previously avoided chapter 11 (whereby a company gains protection from its creditors while it restructures). American has lost over $10bn in the past decade, and has net debts and retirement obligations of $15bn.

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