Uploaded by FinancialNewsOnline on Nov 29, 2011
American Airlines (NYSE:AMR) anticipates to continue normal business operations throughout the reorganization process, and the business will continue to be operated by the company's management.
The U.S Chapter 11 reorganization process enables a company to maintain normal business operations while it establishes a competitive cost and debt structure. This action has no direct legal impact on any American Airlines operations outside the U.S. American Airlines is operating normal flight schedules, honoring tickets and reservations as usual, and making normal refunds and exchanges.
American's AAdvantage frequent flyer program is not affected. American Airlines remains part of the oneworld alliance, of which it is a founding member, and all of its codeshare partnerships continue, enabling customers to earn and redeem miles on convenient flight options worldwide.
AMR (NYSE:AMR) has potential upside of 1812.5% based on a current price of $0.25 and an average consensus analyst price target of $4.78.
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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. (Nov. 29)
The U.S Chapter 11 reorganization process enables a company to maintain normal business operations while it establishes a competitive cost and debt structure. This action has no direct legal impact on any American Airlines operations outside the U.S. American Airlines is operating normal flight schedules, honoring tickets and reservations as usual, and making normal refunds and exchanges.
American's AAdvantage frequent flyer program is not affected. American Airlines remains part of the oneworld alliance, of which it is a founding member, and all of its codeshare partnerships continue, enabling customers to earn and redeem miles on convenient flight options worldwide.
AMR (NYSE:AMR) has potential upside of 1812.5% based on a current price of $0.25 and an average consensus analyst price target of $4.78.
.
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. (Nov. 29)
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