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Airlines, like any business, are susceptible to market fluctuations and economic difficulties. The economic structure of the airline industry may contribute to airline bankruptcies as well. One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees.
DALLAS (AP) — American Airlines said Tuesday it will cut more than 40,000 jobs, including 19,000 through furloughs and layoffs, in October as it struggles with a sharp downturn in travel because ...
It has been a rough year for American Airlines (NASDAQ:AAL) stock, but the biggest hits are yet to come. The second quarter was the most turbulent in history for the legacy carrier.Source ...
Thousands of airline workers are bracing for layoffs at the end of the month unless Congress overcomes a monthlong stalemate. Airlines face wave of layoffs amid coronavirus-aid impasse Skip to ...
Southwest Airlines suspended about 40% of its flights in late March and stored 50 aircraft but denied rumors of pilot furloughs or bankruptcy. [190] By the end of April, the airline canceled about 50% of its flights through late June, parked 350 of its 742 aircraft, delayed many Boeing 737 MAX deliveries, and was claiming losses of at least US ...
American was the last of the remaining legacy airlines in the US to file for bankruptcy, and thus there are no remaining legacy carriers that have not taken advantage of Chapter 11. The Air Transport Association group said that unofficial research states that AMR was the 100th airline company to go into bankruptcy protection since 1990.
The CEO of AMR Corp., parent company of bankrupt American Airlines, won't be getting a $20 million severance package from the company. A bankruptcy court judge in New York rejected the payment ...
By David Koenig DALLAS -- The parent of American Airlines wants to eliminate about 13,000 jobs -- 15 percent of its workforce -- as the nation's third-biggest airline remakes itself under ...