Frequent fliers of American Airlines take note:
Last night, it was unanimously decided that the airlines file for bankruptcy by the board of directors and it's parent company. Obviously, it was a tough decision to come to, but the company is desperate to try and "cut costs and unload massive debt built up by years of high fuel prices and labor struggles."
The nation's third-largest airline made the announcement this morning, adding that CEO Gerard Arpey has stepped down and was replaced by company president Thomas W. Horton.
However, for those of you who have been loyal to the airlines these many years, fear not. At this point, nothing is being said about raising flight costs,honoring tickets or taking reservations. Right now, the only thing getting slashed is the flight schedule and - of course - jobs.
Such a terrible time to make such a move. Those poor people. Right before the holidays. It's so sad!