American Airlines Parent AMR Files Chapter 11
THIS IS NOT A JOKE. Hot off the CNN presses..... Hope this does not mean cuts for VI / PR flights!!!!
"American Airlines' parent company, AMR Corp., announced Tuesday that it has filed for Chapter 11 bankruptcy.
The decision comes as the airline tries to "achieve a cost and debt structure that is industry competitive and thereby assure its long-term viability and ability to continue delivering a world-class travel experience for its customers," the company said in a statement Tuesday.
AMR said American Airlines, American Eagle and all other subsidiaries will honor all tickets and reservations and operate normal flight schedules during the bankruptcy filing process, using its $4.1 billion in cash. "
ummmm, so like, how long does the bankruptcy process take for airlines??? The reason I ask is because it says it will honor tickets through the bankruptcy process. Well, I am booked and paid for in March, what if they are done with the process in February??? Just being paranoid, lol
Chapter 11 reorganization is unlikely to affect AA in ways that will impact flights to and from the VI. Most other major airlines have been through Chapter 11 at some point during the last decade, and it is reasonable to expect that reorganization will accomplish its purpose and set AA on a more fiscally tenable path.
Received this email this afternoon:
Dear AAdvantage® Member,
As you may know, on Tuesday, November 29, American Airlines filed for reorganization under Chapter 11. We took this action as part of our efforts to secure our long-term success in delivering the highest standards in air travel. We are committed to meeting your travel needs with outstanding customer service and safety, and it will be business as usual at American throughout our reorganization process. More than 80,000 people at American appreciate your loyalty and look forward to continuing to serve you.
We want to assure you that your AAdvantage® miles are secure. The AAdvantage miles that you've earned are yours and will stay yours, subject to usual policies, until you choose to redeem them for a great award with us. Likewise, your elite qualifying miles and your elite status, including lifetime status granted under the Million MilerSM program is secure and remains intact. You will continue to earn miles through all our existing AAdvantage participating companies and you will be able to redeem those miles for the same great awards — flights, upgrades, car rentals and hotels just to name a few. And, throughout the coming year, we will be adding even more opportunities to earn miles, as well as new ways to redeem those miles.
American is honoring all tickets and reservations as usual, and making normal refunds and exchanges. And, we intend to maintain a strong presence in domestic and international markets. As we and all airlines routinely do, we will continue to evaluate our operations and service, assuring that our network is as efficient and productive as possible. Additionally, relationships with our oneworld Alliance and other codeshare partners are continuing to provide you with opportunities to earn and redeem miles for travel to hundreds of destinations worldwide, and we are honoring all tickets and reservations for travel on our partner airlines as usual. For information about American's reorganization process, please visit AA.com/restructuring.
Even more importantly, we remain committed to providing a superior customer experience with a focus on delivering what our customers value most — the newest fleet with our upcoming aircraft deliveries, network strength in the important cities of the world and world-class products, service and technology.
American Airlines has a proud history, and we will have a successful future. All of us on the American team thank you for your loyalty and we look forward to welcoming you aboard soon.
Flights just got cheaper too. I looked for round trip from LAX to STX and their cheapest one for mid January was only $491!
That's a great deal! Which airline?
American Airlines. I just checked again, and it had prices one way from $207, but when you go to the checkout page, it says sorry, those prices or not currently avaialble... (wazzup!)