Last Updated: December 21, 2017, 3:47 pm

American Airlines Files for Bankruptcy


After a complicated decade for the airline business, the parent company of industry-giant American Airlines declared bankruptcy Tuesday morning.

Thomas Horton, who will be succeeding the retiring Gerard Arpey as CEO, has stated that the filing was due to cost disadvantages when compared to rival airlines.

After today, JetBlue and Southwest will be the only major U.S. airlines who have not yet filed for bankruptcy. 

American Airlines has stated that it will continue to honor tickets and reservations, as well as operate by its standard flight schedules while processing the bankruptcy.