AMR seeks to keep control over bankruptcy through March 11
By Nick Brown | December 1, 2012 5:21 AM EST
The request, made jointly with its creditors' committee, was filed on Friday in U.S. Bankruptcy Court in Manhattan. The current exclusive window is set to end on January 28.
AMR Corp filed for bankruptcy a year ago in hopes of reducing its labor costs and returning to profitability.
Its smaller competitor, US Airways Group
Friday's filing is a sign that discussions with creditors on how to bring AMR out of bankruptcy are progressing cooperatively, if a bit slower than initially expected.
"American and the
The exclusivity period bars creditors and other parties from proposing their own plans for how AMR should exit bankruptcy.
That effectively blocks US Airways from making a hostile bid, as any merger plan unveiled during exclusivity would have to be proposed by AMR itself.
A hearing on the extension request is set for December 19.
The case is In re AMR Corp et al, U.S. Bankruptcy Court, Southern District of New York, No. 11-15463.
(Reporting By Nick Brown; Editing by Tim Dobbyn)
Most Popular Slideshows
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- Meizu MX4 Pro To Arrive In November In Black And White Colours, Features Higher Than QHD Display, Exynos 5430 SoC And 3 GB RAM
- Israel Loses A Friend in UN Security Council As New Zealand Replaces Australia
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery