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American CEO says airline turnaround nearly done

Last week's renewal of a labor and pension contract by pilots was the last major hurdle the airline and its parent company needed to clear before emerging from bankruptcy protection.

By David Koenig | Updated on December 11, 2012

DALLAS (AP) — American Airlines CEO Thomas Horton suggests that his management team has earned the right to keep leading the company even if it merges with US Airways.

The approval of a new labor contract by pilots last week was the last major hurdle American and parent AMR Corp. needed to clear before emerging from bankruptcy protection in the next few months. American is positioned to finish its Chapter 11 restructuring faster than Delta Air Lines and United Airlines did theirs last decade.

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