Too much to discuss in one post, but one of the reasons AA cited for BK was labor costs. We all know that AA pilots weren't breaking the bank, the fraction of operating expenses that labor actually accounted for wasn't a factor. Additionally, "pensions" aka the A fund was funded at the time and not really the burden they made it out to be, hence the reason it wasn't dissolved in BK court.

Honestly, you really think AA needed to file BK then but not in the few years post 9/11? They weathered the storm in the early 2000's but not 2011-2012? Its clear the BK was a move to shed obligations and position themselves to be competitive with DAL and UAL/CAL. Call it "BK Envy" if you will...