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American Airlines Bankrupt

eTurboNews.com reports: When checking the American Airlines website, the following warning message is posted on the AA homepage:

On November 29, 2011, AMR Corporation, the parent company of American Airlines and American Eagle, and certain of our US-based subsidiaries (including American and American Eagle) filed voluntary petitions for Chapter 11 reorganization in the US Bankruptcy Court for the Southern District of New York. We took this action in order to achieve a cost and debt structure that is industry competitive and thereby assure our long-term viability and ability to continue delivering a world-class travel experience for customers.

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