Posts Tagged ‘fuel’
American Airlines: Files for Bankruptcy Protection
American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.
With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth, Texas-based company, which traces its roots to 1920s air- mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan.
“They will have to go through the whole process that their peers have gone through,” John Strickland, an aviation analyst at JLS Consulting in London, said today in a telephone interview. “It’s painful but probably necessary. They have fallen behind what others have done.”
Chairman and Chief Executive Officer Gerard Arpey, 53, will retire and be replaced by Thomas Horton, AMR said. Normal flight schedules will continue on American and its American Eagle regional unit, along with the airline’s frequent-flier program, the company said.
AMR was determined to avoid Chapter 11 in the years after the 2001 terrorist attacks, as peers used bankruptcy to shed costly pension and retiree benefit plans and restructure debt. American later watched as rival carriers combined, giving them larger route networks that were more attractive to lucrative corporate travel customers.
http://www.bloomberg.com/news/2011-11-29/amr-files-for-bankruptcy-protection-in-new-york-as-talks-with-pilots-end.html
http://blip.tv/wiv-news/american-airlines-files-for-bankruptcy-5614412
Duration : 0:1:26
Bankrupt! American Airlines files for Ch.11 protection
11/29/11 The parent company of American Airlines, AMR Corp., filed for Chapter 11 bankruptcy protection this morning after failing to secure cost-cutting labor agreements and sitting out of a round of mergers amongst competitors.
Duration : 0:1:42
General Motors Re:invent
COMMENTS WILL NOT censored, SO COMMENTS
GM at the end of url add &fmt=18 to see in HQ
New General Motors
Only 4 brands in new Gm: Cadillac, GMC, Buick & Chevy
There are lots of places you can find official information about what’s happening to General Motors right now. In addition to www.gm.com/restructuring, GM has also launched a new website called re:invention. Already stocked with announcements and explanations regarding the company’s filing for Chapter 11 bankruptcy this morning, the website also features a handy, dandy commercial that boils down the essentials to bite-sized, bumper sticker slogans.
The minute-long commercial, which can be viewed after the jump, admits right off the bat that “No company wants to go through this,” and goes on to frame the situation like this: “GM needs to start over in order to get stronger.” Amidst a siezure-inducing barrage of scenes from Americana, the narrator explains in a nutshell that the old way wasn’t working and the new way will be “Leaner, Greener, Faster, Smarter.”
Follow the jump to view the video for yourself and let us know if it gets the right message across about “New GM”.
hope for new GM: http://www.autobloggreen.com/2009/06/01/gm-volt-will-survive-our-bankruptcy/
Duration : 0:1:3
