CHICAGO: The war in Iraq could soon claim its first major US airline casualty with American Airlines stepping up talks that could lead to a bankruptcy filing as early as next week, sources familiar with the matter said.
American, a unit of AMR Corp, had intensified its preparations for a Chapter 11 filing as bookings had been “terrible” since the Iraq war started, one banking industry source said. “It’s a liquidity imperative to file as soon as possible,” he added.
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