American Air CEO Says Bankruptcy Is an Option He Won’t Consider
- Parker sees all major U.S. carriers surviving downturn
- Return of business travel demand is critical to recovery
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American Airlines Group Inc.’s top executive sought to shut down persistent rumors that the debt-laden carrier could be forced into bankruptcy during the coronavirus travel downturn, saying it’s not among options he’ll consider.
“Bankruptcy is failure. We’re not going to do that,” Chief Executive Officer Doug Parker said Wednesday, responding to a question at the Bernstein Strategic Decisions Conference about managing the carrier’s industry-worst debt. “I don’t think people should view bankruptcy as a financial tool; it’s failure.”