AMR Corp.'s American Airlines, which has agreed to sharefinancial information with suitor US Airways Group Inc., is seekinga one-month extension of a deadline for filing a plan torestructure and exit bankruptcy.

American, which faces a Dec. 28 deadline to submit the plan incourt, asked for an extension to Jan. 28 in a filing today in U.S.Bankruptcy Court in Manhattan. The request is supported by thecommittee representing unsecured creditors.

“American has made significant progress in its restructuring,”said Sean Collins, a spokesman for the airline. “This work, whileprogressing well, takes time, and American and the unsecuredcreditors' committee believe that the proposed 30-day extension isappropriate for this process to continue in an orderly andefficient manner.”

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.