Why the Airlines are Bankrupt
You just spent $500 on holiday airfare, including baggage fees, change fees, and a fuel surcharge – yet all you got to eat on the flight was a tiny bag of peanuts. So how is it possible that America’s largest airlines are losing money? American Airlines filed for bankruptcy in November, joining the 20 other airlines that have filed for Chapter 11 protection in the last 10 years. Why are airlines hemorrhaging money?