Mr McGowan's Learning Blog: American Airlines' Parent Firm in Bankruptcy measures

Mr Marcus McGowan MSc PgDip BA (Hons)

is Enterprise Coordinator and Teacher of Business Education at Hamilton Grammar School.

I have provisional registration in Computing and GTC Professional Recognition for Enterprise and ICT.

I have developed materials for Learning and Teaching Scotland and BBC Bitesize for Higher Business Management as well as delivering many INSETs on blogging and podcasting.

I have links with the Hunter Centre for Entrepreneurship through SIFE, and am a committee member of the SBEA.

If you'd like to contact me about materials, resources, or this blog then please click on the link to: email me

Tuesday, 29 November 2011

American Airlines' Parent Firm in Bankruptcy measures

American Airlines' parent company AMR Corporation has filed for Chapter 11 bankruptcy protection.

Shares in the airline plunged 85% when they resumed trading on Tuesday. They are now worth 25 cents each.

The company expects the airline to continue to operate as normal throughout the bankruptcy process.

Speculation about AMR's financial position surfaced in recent weeks after cost-cutting negotiations failed.

AMR said agreements with its workforce forced it to spend $600m (£384m) more than other airlines on staff costs.

The airline employs 78,000 staff worldwide and operates out of five major US hubs.

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