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American Airlines Files Bankruptcy

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bartmc

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The parent company of American Airlines filed for bankruptcy protection Tuesday, seeking relief from crushing debt caused by high fuel prices and expensive labor contracts that its competitors shed years ago.....


AMR Corp., which owns American, was one of the last major U.S. airline companies that had avoided bankruptcy. Competitors used bankruptcy to shed costly labor contracts, unburden themselves of debt, and start making money again. Delta was the last major airline to file for bankruptcy protection, in 2005.

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