American Airlines in bankruptcy by May?

American Airlines parent company could be bankrupt by May. The American's pilots' union claims the Texas-based company has just three months' worth of cash reserves. <br><br>The union analyzed

Thursday, February 27th 2003, 12:00 am

By: News On 6

American Airlines parent company could be bankrupt by May. The American's pilots' union claims the Texas-based company has just three months' worth of cash reserves.

The union analyzed AMR's finances and says almost $2-billion in employee concessions sought by American might not be enough to save the world's largest airline.

The union says American needs $1-billion to keep flying. AMR's chief financial advisor said last month American was losing about $5-million a day.