AMR Seeks More Time To Present Turnaround Plan
FORT WORTH, Texas (AP) – The parent company of American Airlines may get more time to present a turnaround plan in federal bankruptcy court.
AMR Corp. said Friday that creditors agreed to support a 3-month extension for AMR’s exclusive rights to offer a restructuring plan, to Dec. 27 from Sept. 28. A federal judge is expected to rule on the request next week.
The deal would give American more time to complete cost-cutting agreements with labor unions.