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December 4, 2009

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Union warns airline faces bankruptcy within months

Thursday, Feb. 27, 2003 | 9:52 a.m.

DALLAS -- AMR Corp., parent company of American and American Eagle airlines, could be forced into bankruptcy as soon as May, its pilots' union warned.

An analysis of AMR's finances by the Allied Pilots Association found the Fort Worth-based company has just three months' worth of cash reserves, The Dallas Morning News reported.

American Airlines pleaded with employees earlier this month to accept steep cuts in wages and benefits to save $1.8 billion annually. The pilots' analysis concluded that might not be enough.

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