Posted on Friday, February 24th, 2012 at 5:35 pm
American Airlines recently described some basic plans for their bankruptcy, as well as plans for business after exiting bankruptcy. In Los Angeles last week, officials said that they believe laying off around 13,000 employees will save them around $2 billion in labor costs a year. The company has cited high labor costs and union contracts as two things that have kept them behind their competition.
In addition, AA officials said that they believe their planes are getting too old and that they want to buy several new planes over the next few years. Also, they hope to be able to increase their flights in Miami, Los Angeles, Chicago, Dallas-Fort Worth, and New York by about 20 percent when they are ready to exit bankruptcy.
To speak with an attorney about your options for filing for bankruptcy or the bankruptcy process, contact the Joliet bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. by calling 815-722-2201 today.