Apparently the flight was unprofitable:
"The historical financial performance of the route and its future outlook given the global economic climate and high oil prices has resulted in a decision by American to cancel its New Delhi-Chicago O'Hare service," the airline said in a memo to American managers.
The last flight to leave for India from Chicago will be on Feb. 28, while the last return flight from India to Chicago will be on March 1.
The flight from New Delhi to Chicago had been problematic during winter and early spring. The flight would often arrive at O'Hare earlier than 5 a.m., the time that O'Hare's customs agents start work, stranding passengers on the plane for an additional half hour to an hour.
Oddly, AA292 is scheduled to arrive in Chicago at 5am, so the possibility of it arriving before Customs opened must have occurred to someone. This unfortunate schedule probably comes from Delhi's odd penchant for launching international flights at midnight. AA292 takes off at 00:55 IST, about an hour before Cathay's flight to Hong Kong and two hours before a British Airways flight to London. The takeoff time certainly isn't dictated by the O'Hare arrival slot, as O'Hare, to my knowledge, doesn't require reservations between 11pm and 6am.