More Reaction To American Airlines And Bankruptcy
American Airlines's bankruptcy filing by it's parent company may not be all that surprising to some.
"It's been a long time coming."
Fred Russell manages investments and watches companies like American.
"Every other major except Southwest has gone through bankruptcy. some more than others and just because American is going to do this now doesn't mean this will be the last of it.
High fuel and labor costs, and large amounts of debt are what Russell says led to the filing. As a result, he predicts union employees could see smaller paychecks and employer contributions to their retirement plans. For American's customers there is also a price to pay .
"You might see such things as flight cancellations American redirection number of flights to cities you may see flights being canceled."
An effort to save costs could change the make up of America's maintenance facility which employs more than 7 thousand people in Tulsa. The Airlines' partnership with the City of Tulsa has provided many great savings to American over the years. The local chamber says now is not the time to bail on American.
Mike Neal is with the Tulsa Metro Chamber.
"We realize there are a number of capital needs that they are going to need will be required that Tulsa is going to have to continue to invest in a partnership fashion with American. "