More Reaction To American Airlines And Bankruptcy - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

More Reaction To American Airlines And Bankruptcy

Posted: Updated:

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. "

  • NewsMore>>

  • Power Outages Continue to Climb in Northeast Oklahoma

    Power Outages Continue to Climb in Northeast Oklahoma

    PSO confirms more than 10,000 customers are currently without power in Osage and Washington Counties as of midnight.More >>
    PSO confirms more than 10,000 customers are currently without power in Osage and Washington Counties as of midnight.More >>
  • Live Weather Update: Severe Weather

    Live Weather Update: Severe Weather

    The Tulsa's Channel 8 Weather Team is watching severe weather in our area.More >>
    The Tulsa’s Channel 8 Weather Team is watching severe weather in our area.More >>
  • Locals Excited About New Addition At Lake Keystone

    Locals Excited About New Addition At Lake Keystone

    Music, food and a beautiful view; that's how dozens of lake goers spent their Labor Day. They came out to the new two level bar and restaurant located at the harbor at Crosstimbers on Keystone Lake."We have the newest one of if not the largest floating restaurants in Oklahoma," said Ron Howell, owner and developer.Owner Howell gave me a tour of the restaurant. The downstairs has a long bar, flat screen TV's and about 50 seats inside."This is really designed to be an open air facility, but al...More >>
    Music, food and a beautiful view; that's how dozens of lake goers spent their Labor Day. They came out to the new two level bar and restaurant located at the harbor at Crosstimbers on Keystone Lake."We have the newest one of if not the largest floating restaurants in Oklahoma," said Ron Howell, owner and developer.Owner Howell gave me a tour of the restaurant. The downstairs has a long bar, flat screen TV's and about 50 seats inside."This is really designed to be an open air facility, but al...More >>
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.