Port Authority: AMR bankruptcy shouldn't hurt Toledo Express
Tue, 29 Nov 2011 16:43:29 GMT —
Shares of American Airlines' parent company AMR Corp. fell 85 percent after filing for bankruptcy protection on Tuesday, but emerging reports maintain the 240,000 passengers who fly each day shouldn't see many changes.
AMR said the move will help reduce hefty costs, like labor, and operations will continue as usual during this time. Even Toledo Express representatives say the airport isn't anticipating any major changes.
"We have not been informed of any changes or impact to American Eagle flights at Toledo Express Airport as a result of the recently announced Chapter 11 filing of the parent company of American Eagle," wrote Carla Firestone Nowak, communications director at the Toledo-Lucas County Port Authority.The Associated Press reports frequent fliers continued to book tickets and earn points for their travel miles when Delta, United, Continental and US Airways went through Chapter 11.
"American Eagle passenger traffic at Toledo Express increased nearly 40 percent last month vs. the same time period last year and the company is experiencing good success with the additional service to and from Toledo Express added this past August," Nowak wrote.
If the restructuring fails, the company could liquidate and cancel flights, but all tickets bought with a credit card are protected.
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(The Associated Press contributed to this report)