AMR Corp. unit American Airlines Inc. said it will reshuffle several management positions and appoint a new chief restructuring officer, after its parent company's Chapter 11 bankruptcy filing last week. American Airlines was the only major carrier not to turn a profit last year and appeared set for another full-year loss in 2011.
Its parent company was one of the last of the major U.S. airlines to seek bankruptcy protection. AMR has suffered losses of more than US$10-billion since 2001 as it struggled to bring costs in line with such rivals as United Air Lines Inc. and Delta Air Lines Inc. that have restructured under court protection and found merger partners. AMR shares, which dropped at the bankruptcy, surged on Tuesday's news.
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