by Nate Wooley | October 5, 2012 9:37 am
Troubled air carrier American Airlines (PINK:AAMRQ) is canceling several dozen flights Friday as repairs are underway to deal with the maintenance issues that led to seats coming loose on three flights earlier. These cancellations are on top of 50 flights cut on Thursday, reports The St. Louis Business Journal.
The cancellations present an ongoing challenge to the country’s third-largest airline as it attempts to deal with bankruptcy. While working toward emerging on its own, there have also been talks of a merger with US Airways (NYSE:LCC), according to Bloomberg News.
American pulled 48 of its 102 Boeing (NYSE:BA) 757s out of service for two days while it inspected the clamps that attach the seats to the floor of the aircraft. Six of the airplanes were found to have the same issues that caused seats to come loose in flight last week.
The delays and issues could have an impact on American’s financial performance if passengers begin to move away from the troubled airline. This could complicate matters for the carrier and force it to tap a $5 billion bankruptcy cash fund.
More airline issues up in the air:
Source URL: http://investorplace.com/2012/10/american-airlines-grounds-dozens-of-flights/
Short URL: http://invstplc.com/1nD9qNJ
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.