American Airlines officials say they could file for chapter 11 bankruptcy protection as early as today unless the carrier’s unions accept wage and benefit concessions. The warning follows the decision by American’s Chief Executive Officer Don Carty to resign. The resignation comes in the wake of revelations that airline executives received huge bonuses after workers had initially agreed to take pay cuts. Senator Jim Talent has responded to the Carty resignation, saying it marks a new beginning for former TWA employees and American Airlines. Talent says Carty failed to keep the commitments made to former TWA employees.
