The parent of American Airlines filed for bankruptcy protection, an abrupt course change by one of the country's largest carriers that caps a decade of restructurings that are helping revive the long-troubled industry.

AMR Corp. said its filing on Tuesday in New York would help it cut costs and emerge more competitive after losing more than $10 billion since 2001.

Analysts viewed AMR's filing as broadlypositive for the airline industry, in part because American is expected to reduce excesscapacity that has led to unprofitable routes.

AMR's move could trigger industry consolidation, with US Airways Group Inc., the product of an earlier merger, seen by analysts as a potential fit. But any attempted merger would unleash huge integration issues, further upset labor groups and face antitrust concerns.

AMR is third among U.S. and global airline companies by traffic, behind United Continental and Delta. The company, which has roughly $25 billion in assets, made a bankruptcy filing that ranks as the 24th-largest since 1980, according to BankruptcyData.com, and the second-largest airline bankruptcy behind United Airlines parent UAL.

AMR enters bankruptcyprotection with more than $4 billion in cash on hand, a decision that surprised some industry observers but drew praise from bankruptcy experts, who said troubled companies often wait too long to file. They also said AMR will likely benefit from the experience of its competitors in bankruptcy. AMR's filing appears to have been 'very well planned,' said Eric Schaffer, a partner in Reed Smith's bankruptcy practice who has worked on past airline restructurings.