Amr: American Airlines files for bankruptcy

AMR, which filed for bankruptcy protection Tuesday, detailed its struggles to avoid this step through “hundreds” of cost cuts, and by borrowing against “virtually all of its unencumbered assets,” according to an affidavit filed by its financial chief.By TheStreet Wire 11/29/11 - 05:02 PM EST AMR (AMR) pushed the Transportation industry lower today making it today's featured Transportation loser. The industry as a whole closed the day down 1.4%. By the end of trading, AMR fell $1.28

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