American Airlines seeks bankruptcy protection

American Airlines, and its parent company filed for Chapter 11 bankruptcy

protection in U.S. Bankruptcy Court on Tuesday.

The company made the move to "become a more efficient, financially

stronger, and competitive airline," Thomas Horton, incoming Chairman and

CEO of AMR and American Airlines said in a release. As part of the transition,

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former Chairman and CEO Gerard Arpey will retire, and will be succeeded by

Horton.

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