|
In the lawsuit, AMR said that its liability to provide the benefits for current retirees was $1.26 billion in 2010, and its liability for covering retirees of TWA, which AMR bought in 2001, was $111 million. The company has lost more than $10 billion since 2001 and has continued losing money even as other airlines returned to profitability in recent years. AMR, American and AMR's regional airline American Eagle filed for bankruptcy protection on Nov. 29. American is trying to cut spending on current workers by more than $1 billion per year, or 17 percent, through layoffs, reduced benefits and greater productivity.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor