American Airlines Files for Chapter 11

American Airlines' parent company, AMR, filed for Chapter 11 bankruptcy protection in response to increasing labor costs and rising fuel prices.

Sources:Fox NewsCNNThe EconomistCNBCAustin American-Statesman

Watch video: http://www.newsy.com/videos/what-does-aa-bankruptcy-mean-for-company-fliers/

By Mallory Perryman

Anchor: Megan Murphy

Link courtesy of Newsy.com