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American Airlines avoids Chapter 11

By Michael Clarke

AMERICAN Airlines has managed to avoid Chapter 11
bankruptcy after its flight attendants approved a last minute concessions
package.

Chief executive Don Carty had threatened
to file for bankruptcy protection unless the workers approved pay cuts.

He extended their vote deadline after they initially
rejected the 15.6% pay cut by just 500 votes.

However, the airline’s
problems look set to continue, with one group of flight attendants threatening
a lawsuit to overturn the decision.
 

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