Originally Posted by
Cujo665
American. Over $4B in cash on hand. Convinced a BK judge that their debt structure was to become unstable unless BK restructuring of debt occurred.
That's not a lot of money for a company that size with that many liabilities. Especially an airline... the FAA will pull your cert if your financial position gets bad enough, they know a broke company cannot and will not comply with all safety requirements.
Also AA was too big to fail at that point.