Major changes are afoot for pilots and retirees at one of the world’s largest airlines as it continues to emerge from a November 29, 2011 Chapter 11 bankruptcy filing.

American Airlines and its parent company, AMR Corp., want to put the brakes on employer-paid health care and life insurance benefits for about 40,000 retirees. Company spokesman Bruce Hicks has described the move as “very similar” to a proposal for future retirees, who would be given access to medical coverage as long as they pick up the tab.

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