American Airlines

About American Airlines

American Airlines filed for Chapter 11 bankruptcy on November 29, 2011. American was the last major US airline to file for bankruptcy during the 2000s crisis. Parent company AMR had 29.6 billion in assets and 24.7 billion in liabilities. CEO Tom Horton led the restructuring. US Airways proposed a merger. Doug Parker became CEO of the combined airline. American terminated some pension obligations but preserved others through negotiation with labor unions. American emerged from bankruptcy in December 2013 concurrent with the merger. The merger created the largest airline in the world. The American Airlines bankruptcy completed the consolidation of the US airline industry into four major carriers: American, Delta, United, and Southwest.