American Airlines files for bankruptcy

American Airlines, the U.S.’s third-largest airline, and its parent company AMR Corp. are filing for Chapter 11 bankruptcy protection, the Globe and Mail reports. Like other U.S. airlines, the company has struggled for year with high fuel costs and labour disputes. Unlike some of its competitors, however, it failed to return to profitability in the past couple of years. Company president Thomas W. Horton replaced chief executive Gerard Arpey, who stepped down. The airline reassured customers that it would continue to operate flights, honour tickets, as well as the AAdvantage frequent-flier program, and take reservations normally while it undergoes restructuring.