American Faces More Bankruptcy Worries
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American Airlines faces bankruptcy concerns again -- just days after avoiding Chapter 11 -- as its flight attendants said they would revote on whether to accept $340 million in job, pay and benefits cuts. Balloting is expected this week.
In addition, ground workers and mechanics threatened to pull back on their concessions. All three unions are outraged over the disclosure Friday of lucrative bonuses and a bankruptcy-protected pension plan for some top executives.
The revote is planned even though American, a unit of AMR Corp., said six executives would give up the retention bonuses.
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