According to Reuters:
American Airlines may still file for Chapter 11 bankruptcy protection in New York within days, sources familiar with the matter told Reuters. The sources said the timing depends on whether the flight attendants, who have been reluctant to endorse deep pay cuts, go ahead and accept the concessions.
The airline''s board was ready to file for bankruptcy on Friday, the sources said, but decided upon advice of lawyers to give flight attendants one more shot at accepting concessions, delaying a filing most likely until Monday. It was still possible the airline could avoid a quick bankruptcy filing if the flight attendants approve the cuts, the sources cautioned.
The flight attendants union did not agree to the changes by a deadline on Thursday afternoon, sources said. AMR is likely to give that labor group until Monday to reach a decision to certify a vote, they said, although the situation is fluid.