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1. American Makes its Case Against Union Contracts
- Tuesday, April 24, 2012
NEW YORK (AP) – American Airlines argued before a federal bankruptcy judge Monday that its union contracts need to be changed to make the company financially stable.
The airline lost more than $10 billion in the decade leading up to its declaration of bankruptcy in November. During that same period most of its major rivals used the bankruptcy process to cut wages and benefits, which American says has left it saddled with higher labor costs.