Travelblog

Memorandum
To : IATA Agents

From: Aleks Popovich, Senior Vice President IDFS

Date: 02 December 2011

Subject: American Airlines – (AA /001)

American Airlines filed for bankruptcy protection with the United States Bankruptcy Court for the Southern District of New York on 29 November 2011. The purpose of that filing is to provide protection for the company from its creditors while it reorganizes.

IATA’s position is to do whatever we can to support our Member Airlines which are undergoing a restructuring process, while also protecting the interests of our other Members, IATA Agents and the traveling public.

IATA will be working very closely with American Airlines’ senior management and the Bankruptcy Court to reach an agreement for American to assume and honor its obligations and to provide a security deposit consistent with IATA policy. No such agreement for a security deposit has yet been finalized.

For the time being American appears to intend continuing all flight operations, and has received court approval to continue making transactions through the BSP and CASS processes, with no disruption to data processing, remittances or settlements.

If you have any further questions, please contact your local IATA office. We will keep you informed of any changes to the situation.

Best regards,
Aleks Popovich