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On November 29, 2011, AMR Corporation, the parent company of American Airlines and American Eagle, and certain of our U.S.-based subsidiaries (including American and American Eagle) filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. We took this action in order to achieve a competitive cost and debt structure and assure our long-term viability and ability to continue delivering a world-class travel experience for customers.
The Court has granted American the exclusive right to propose its own Plan of Reorganization through September 2012, subject to possible extensions at that time. We are making substantial progress in our efforts to return American to industry leadership, profitability and growth, and are taking the necessary steps to achieve our restructuring goals and emerge from this process as soon as possible.
Our customers remain our top priority and will continue to enjoy the quality service they know and expect from American Airlines. Throughout this process, American Airlines and American Eagle are continuing to: