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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (83887)	4/25/2003 9:21:22 AM
From: Taki	Read Replies (1) \| Respond to of 122087

UPDATE 1-American Airlines bankruptcy filing seen soon UPDATE 1-American Airlines bankruptcy filing seen soon (Updates with possibility bankruptcy could be put off until Monday, executive changes) CHICAGO, April 24 (Reuters) - AMR Corp.'s <AMR.N> American Airlines will file for Chapter 11 bankruptcy protection on Friday or perhaps Monday unless its flight attendants agree shortly to accept pay concessions, several sources familiar with the matter told Reuters on Thursday. The impending move in the U.S. Bankruptcy Court in New York comes after AMR's board met throughout the day on Thursday in Texas to consider the fate of the world's largest airline, which has been embroiled in a big dispute with its three major unions. Chief Executive Don Carty was asked to resign, sources familiar with the matter said, and he will be replaced by President and Chief Operating Officer Gerard Arpey, who retains his title as president. AMR in a late statement said board member Edward Brennan would take over as executive chairman. Pilots, along with mechanics and other ground workers, agreed to certify concession packages last week with a few new provisions, but flight attendants did not meet a late afternoon deadline set by the board of directors, the sources said. ((Reporting by Kathy Fieweger, editing by M.E. Miller; Reuters Messaging: kathy.fieweger.reuters.com@reuters.net; 312-408-8729; kathy.fieweger@reuters.com)) REUTERS * end of story *