AMR Corporation was an airline holding company based in Fort Worth, Texas, which was the parent company of American Airlines, American Eagle Airlines, AmericanConnection and Executive Airlines. AMR filed for Chapter 11 bankruptcy protection in November 2011. The company emerged from bankruptcy on December 9, 2013, and at the same time announced that it would merge with US Airways Group to form a new company, American Airlines Group. History AMR Corporation was formed in 1982, as part of American Airlines' non-bankruptcy reorganization into a Delaware corporation, its name derived from American Airlines's former ticker symbol on the New York Stock Exchange. In 1984, various subsidiaries previously owned by American Airlines merged and created AMR Energy Corporation; it was involved in creating oil and natural gas resources. In 1986, AMR announced that it would be acquiring Air California's parent company, ACI Holdings, for $225 million. In 1994, AMR succeeded in achieving profitability, after failing to produce it for three years in a row. In 1998, the company announced that it would sell three of its subsidiaries and focus solely on the core airline businesses. AMR purchased Trans World Airlines (TWA) in 2001, for $742 million. With the acquisition, American became the largest airline in the world and surpassed United Airlines. On November 29, 2011, AMR Corporation filed for Chapter 11 reorganization bankruptcy with $4 billion of cash. The decision came as the airline tried to "achieve a cost and debt structure that is industry competitive and thereby assure its long-term viability and ability to continue delivering a world-class travel experience for its customers," the company said in a statement. American Airlines stated that despite the filing it was continuing normal operations. Chairman and CEO Gerard Arpey stepped down and was replaced by company president Thomas W. Horton. American was the last of the remaining legacy airlines in the US to file for bankruptcy, and thus there are no remaining legacy carriers that have not taken advantage of Chapter 11. The Air Transport Association group said that unofficial research states that AMR was the 100th airline company to go into bankruptcy protection since 1990. On December 2, 2011, AMR Corporation was replaced by Alaska Air Group in the Dow Jones Transportation Average. In February 2012 the company announced that in order to cut operating costs and boost revenue, it would eliminate 13,000 jobs, which amounted to 18 percent (including 15 percent management