Friday, April 13, 2012
OKLAHOMA CITY – Governor Mary Fallin today released the following statement regarding American Airlines’ restructuring process:
“As Governor, my priority has always been to retain and create as many good jobs as possible for working Oklahomans and their families. In that light, the Department of Commerce and my office, like many others in Oklahoma, have been monitoring the progress of American Airline’s restructuring under Chapter 11 of the Bankruptcy Code. While this process is difficult and painful, it is also necessary if American is to emerge a viable company and a strong competitor.
“Questions have risen recently about what the best outcome of the bankruptcy process may be for Oklahoma, including the possibility of a hostile takeover of the company. I want to make this clear: for Oklahoma’s sake, there is no question that the best outcome for our state and its workforce is for American to rapidly and successfully exit from bankruptcy in control of its own destiny. A hostile takeover would create delay and an uncertain future for workers and their families.
“American Airlines has developed a business plan built upon growth and on retaining thousands of jobs in Oklahoma. While the company’s plan must obtain final approval from the bankruptcy judge and creditors, American’s management and its union leaders are working hard to find an agreement that will ensure American exits bankruptcy a viable and independent competitor. We hope that occurs so a maximum number of American Airlines jobs remain in Oklahoma.”