Originally Posted by rickair7777

It's worth understanding that corporate bankruptcy law has changed *significantly* since then. It's not a coincidence that several legacies all filed in the same time-frame before the new law took effect. No more quick trip through the BK drive-through to shed inconvenient obligations... if managers file today they are in serious jeopardy of losing control of the company, and their jobs. Basically the creditors, not the debtors-in-possession, are in the driver's seat today.

So no, AA managers will not declare BK unless they have no other alternative. I'm certainly not an AA fan-boy, but they are too big to fail, and they won't file BK as a matter of convenience.