American Airlines' parent company AMR Corp. has filed for Chapter 11 bankruptcy reorganization, the company said Tuesday, in an attempt to get costs and debt under control.
"American expects to continue normal business operations throughout the reorganization process, and the business will continue to be operated by the company's management," AMR said in a statement.
The nation's third-largest airline said it would be operating normal flight schedules and honoring tickets, as usual, during the process. It added its frequent flyer program is not affected.
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