AMR Asks Bankruptcy Court to Extend Exclusivity Period for Restructuring
American Airlines parent AMR Corp. (AMR) asked a bankruptcy court today to extend the period of time during which it alone holds the right to file a plan of reorganization to Sept. 28.
Seeking an extension is “customary” in complex bankruptcies, and more time will let American focus on restructuring and airline operations, said Sean Collins, a spokesman. AMR, based in Fort Worth, Texas, filed for Chapter 11 on Nov. 29. Its original exclusivity period ends this month.
“This extension will allow American to continue focusing on preserving and enhancing its ongoing value and restructuring its financial condition and operations to achieve a competitive and sustainable cost structure,” Collins said.
AMR’s request for an extension is scheduled to be considered by the bankruptcy judge at a March 22 hearing.
The case is In re AMR Corp., 11-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan).