AMERICAN AIRLINES Officials say bankruptcy hinges on vote
FORT WORTH, Texas (AP) -- American Airlines says that whether it files for bankruptcy now rests in the hands of how its employees vote on labor concessions totaling $1.8 billion.
Pilots, flight attendants and ground workers were scheduled to complete voting today on tentative agreements to cover nearly all the annual labor cost savings that American says it needs to avoid bankruptcy. The concessions include layoffs, pay cuts and reduced benefits.
"Unless all three unions ratify these tentative agreements, we will be left with no choice but to file bankruptcy," company spokesman Bruce Hicks said Monday.