American Airlines Asks Bankruptcy Protection

American Airlines and its parent AMR sought bankruptcy protection this morning in court and pledged to emerge as a stronger carrier in a move that could prompt another bout of industry consolidation and present a stern test for regulators.

These changes are due to the low shares of AMR (down 59% in negotiations prior to market opening), and appointed Thomas Horton as chairman and chief executive after Gerard Arpey opted to retire and join an investment group.

(BG)