I wasn't saying that social media is the magical fix, I actually say in my article that it isn't. And I completely agree with you, bad customer satisfaction isn't what caused this debt. Other factors have caused the current state of the American aviation industry.
Filing for Chapter 11 bankruptcy will help American Airlines restructure the company's costs and debt. AMR, unlike many of the other US airlines, has tried to avoid filing for bankruptcy for a while now. And it is because of this that their costs and fees are much higher than other US carriers. I am not saying that oil costs and unions and debts haven't had impacts on this decision from American Airlines.
What I am saying is that social media is more important to certain industries and one of those industries is the airlines. Social media is also not going to get American Airlines out of this predicament but actively using social media will help American Airlines improve sales and the public's perception.