AMR Corp.’s American Airlines, which has agreed to share financial information with suitor US Airways Group Inc., is seeking a one-month extension of a deadline for filing a plan to restructure and exit bankruptcy.
American, which faces a Dec. 28 deadline to submit the plan in court, asked for an extension to Jan. 28 in a filing today in U.S. Bankruptcy Court in Manhattan. The request is supported by the committee representing unsecured creditors.
AMR’s $460 million of convertible, unsecured 6.25 percent notes due October 2014 gained 0.5 cent to 66 cents on the dollar at 10:59 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. They have almost quadrupled from 17.5 cents on Nov. 29, when AMR filed for bankruptcy.