AMR Wants More Time To File Bankruptcy Plan
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FORT WORTH (AP) - American Airlines parent AMR Corp. and its creditors want six more weeks to complete a bankruptcy-restructuring plan.
AMR and a committee for unsecured creditors filed a motion Friday to extend the company’s exclusive right to file a reorganization plan from Jan. 28 — to March 11.
Fort Worth-based AMR says it needs more time because of the size and complexity of the task, and because it has spent so much time reworking labor deals with its unions.
A hearing is set for Dec. 19 in bankruptcy court in New York. It would be the fourth extension of exclusive rights for AMR since the company filed for bankruptcy protection in November 2011. The other requests were approved.
AMR has been considering a potential merger with US Airways Group Inc.
(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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