I don't think BK is in the cards for AA. The political and business environment is very different than 2003; there isn't the "sympathy" for distressed airlines.

BUT, AA needs to do something dramatic to break out of its current predicament--poor financials, up against strong competitors, expensive contracts. In '83, they were seen in a similar position, deregulation didn't favor them, the analysts were against them. They pulled "two-tier" contracts out of their hat and changed the industry, combined with an historic economic expansion AA was top dog for 15 years.

What's the next "rabbit out of the hat"? Mainline 95-seaters at regional-like pay scales? A new B-scale? A huge change in its business model--move away from hub and spoke to an SW model?

All possibilities

GF