Air Fail

American Airlines? parent company, AMR Corporation, filed for Chapter 11 bankruptcy protection on Tuesday, surprising exactly no one. A major corporate bankruptcy is normally a bit of a shock, but there?s nothing shocking about bankruptcy in the American passenger air business, where filings are way more common than crashes. Frontier Airlines filed in 2008, Delta and Northwest both filed in 2005 (and later merged), and United and U.S. Airways filed in 2002 and then again in 2004. TWA went down in 2001 as part of an acquisition by the now-bankrupt American Airlines. Pan Am, of course, went out of business entirely 10 years before that, only to re-emerge as a short-lived television show about the glories of air travel in the era before constant bankruptcy. And those are only the big ones. All told there have been 189 airline bankruptcy filings in America since 1990. Why?

Source: http://feeds.slate.com/click.phdo?i=2599ff02e2a472edd53c3a8ee1de9f31

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