American Airlines files Chapter 11 bankruptcy
AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation (American Eagle), announced today that it filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
In a written statement, AMR reports:
AMR’s Board of Directors determined that a Chapter 11 reorganization is in the best interest of the Company and its stakeholders. Just as with the Company’s major airline competitors in recent years, the Chapter 11 process enables American Airlines and American Eagle to continue conducting normal business operations while they restructure their debt, costs and other obligations.
It also reported that American Airlines and American Eagle are operating normal flight schedules today, and their reservations, customer service, AAdvantage program, Admirals Clubs and all other operations are conducting business as usual. Likewise, throughout the Chapter 11 process, American and American Eagle expects to continue to maintain full operations and fly normal schedules.
AMR announced separately today that the Board of Directors of AMR Corporation appointed Thomas W. Horton Chairman and Chief Executive Officer of the company, succeeding Gerard Arpey, who informed the Board of his decision to retire. Horton will also succeed Arpey as Chairman and Chief Executive Officer of American Airlines and will retain the title of President.
AMR was the first major airline company to implement both sexual orientation and gender identity in its workplace nondiscrimination policies and the first major airline to have a recognized LGBT employee resource group, GLEAM. It was also the first major airline to implement same-sex domestic partner benefits and offers equal health coverage and travel privileges to same-sex partners of its employees.
In 2002, AMR was the only airline company to earn a perfect 100 rating in HRC’s first Corporate Equality Index, a rating it has retained each year. It operates a corporate-wide gay-specific microsite: AA.com/Rainbow.
American Airlines is a member of the International Gay and Lesbian Travel Association and the National Gay & Lesbian Chamber of Commerce. It was a major sponsor of NGLCC’s national dinner that was recently held in Washington, D.C.
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