American Airlines has been in bankruptcy protection for 14 months and has asked for an extension.
They lost about $2 billion in 2012. The employees’ pensions were threatened to be turned over to the federal government, and stockholders get nothing.
Last month, American’s CEO Tom Horton paints all the airplanes a fancy new color! Now they are trying to merge with US Airways.
If that happens, guess what: a new paint job again. I am certain that the creditors, stockholders and employees would have liked to have payment and not new paint.