TRAFFIC: 75 South at Hwy 121 Sam Rayburn Tollway CLOSED, backed up to Eldorado Pky | Check Online

Lawyer’s Comments Give AMR Shares A Bounce

DALLAS (AP) – Shares of American Airlines parent AMR Corp. rallied after a company lawyer said stockholders might get something back following bankruptcy.

Fort Worth-based AMR could exit from Chapter 11 protection soon after deciding whether to merge with US Airways or remain independent.

Companies often issue new stock after bankruptcy — rendering the old shares worthless. AMR shares on Wednesday jumped 39 cents, or 43 percent, to $1.29.

The Associated Press reports executives of the companies were meeting privately with AMR bondholders. A person familiar with the situation, who spoke on condition of anonymity, says the bondholders’ group heard from AMR executives Tuesday and will meet with US Airways officials Thursday.

Both companies declined comment.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out:

Comments

More From CBS Dallas / Fort Worth

Play.It
The Taz Show

Listen Live