Posted by- Neelam Mathews
Nov 30, 2011
US Senate Committee on Commerce, Science and Transportation Chairman John D. (Jay) Rockefeller IV released this statement following American Airlines’ announcement to seek bankruptcy protection:
“I was disappointed to learn that American Airlines filed for bankruptcy. I know that Gerard Arpey, CEO of American Airlines, worked hard to avoid it. I commend him for trying to restructure the company in order to preserve his employees’ hard-earned pensions. I also know he cares about his employees and that he regrets taking this action.
Seeking bankruptcy protection is not an easy decision and is a difficult and painful process for workers, retirees, shareholders, and the communities American Airlines serves. I’m confident that the company will work through this restructuring and emerge a stronger and better airline. Ensuring that the U.S. has a healthy airline industry is one of the reasons that I am working so hard to pass an FAA reauthorization bill. We need a long-term FAA bill to create the conditions necessary for our airlines, airports, and manufacturers to thrive.”