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Airline's survival fight

AMERICAN Airlines and its parent company AMR Corp filed for bankruptcy protection after it failed to reach a deal with pilots.

The air carrier wanted to pare down its labour costs and restructure their labour agreements as it recorded the highest costs in the industry.

Under its Chapter 11 filing in a New York court, the company listed assets of about $24.72bn (€18.5bn), while it has liabilities of $29.55bn (€22bn). AMR said both American Airlines and American Eagle are expected to fly normal schedules throughout the Chapter 11 process.