NEW YORK (Standard&Poor's) April 25, 2003--The flight attendants at American Airlines Inc. today approved revised contract terms, averting a Chapter 11 bankruptcy filing. Standard&Poor's Ratings Services said that its ratings on AMR Corp. (CCC/Watch Dev/-) and subsidiary American Airlines (CCC/Watch Dev/-) remain on CreditWatch with developing implications. The company, which had already reached agreement with its two other unions representing the pilots and mechanics, had indicated it would file for bankruptcy protection within the next few days if the flight attendants did not reach an agreement. The revised contracts are expected to save the airline $1.8 billion annually over the next five years and should materially improve American's operating cost structure, narrowing the airline's losses and
