FORT WORTH — American Airlines flight attendants balked at approving $340 million in wage concessions Tuesday but were given one more day to change their minds and keep the world's largest airline out of U.S. Bankruptcy Court.
"This is our last chance to avoid bankruptcy," said Don Carty, chairman of American parent AMR Corp.
Pilots and ground workers accepted their portions of $1.8 billion in cuts American says it needs to avoid filing for Chapter 11 bankruptcy protection. But flight attendants were on the verge of rejecting the deal by a margin of less than 3% Tuesday, the original deadline, a union official said.
The firm said Tuesday that flight attendants would be allowed to continue voting -- and to change their votes -- until 3 p.m. PDT today.
Leaders of American's three main unions support the concessions as a better alternative to operating under Bankruptcy Court protection. They fear that American would use the bankruptcy process to impose even harsher cuts and reduced pension benefits.