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American Airlines Files For Bankruptcy

The new CEO of AMR — the parent company of American Airlines — vows that the carrier will maintain “business as usual” throughout its restructuring.

“All of our flights will go as scheduled,” CEO Tom Horton says.

Horton spoke to the media the same day that AMR filed for bankruptcy protection.

“I would say it was really the thinking that now is the time to get on with restructuring the company to make it competitive and successful for the long term.”

Horton’s remarks were reported in full by the Chicago Tribune:

We are laser-focused on completing a successful restructuring of this company. When you look at the assets this company has, I have no doubt, nor do many observers in the industry, we will be very successful. We have hubs in the right places in North America. We have hubs in the best markets around the world, and we have an enviable aircraft order book.

The executive was also confident that American would get through the process even more speedily than its competitors had during their own restructuring:

It’s too early to tell what the timetable will be. The duration has been a wide range over the past several airline restructurings. The last couple were, I think, Delta and Northwest. … (Both) were under 15 months. We would certainly look to do better than that.

Horton also spoke of his communication with American Airlines’ 80,000 employees:

We’re saying it’s time to turn the page and move forward, and a successful American Airlines is in everybody’s interest, and that’s what we have to go to. We have to put the past behind us and get focused on the future.

Read More At Chicago Tribune

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