Jan 27, 2012

AMR Seeks More Time to Renegotiate Aircraft Leases‎

Fort Worth-based AMR Corp., which operates American Airlines and American Eagle, filed for Chapter 11 bankruptcy on November 29. As the 60-day court deadline for Section 1110 notices on aircraft approaches, American will be in U.S. Bankruptcy Court today asking to get out of leases on 18 aircraft. American has filed for extensions on more than 100 aircraft that will be presented to the court for signing in the next week, and it’s likely to file more.

If American does not tell the court that it wants to keep an aircraft, renegotiate its lease or abandon the lease within 60 days of bankruptcy, lenders can repossess the aircraft, Deutsche Bank analyst Michael Linenberg wrote in an investor note last week.

Read more here: http://www.star-telegram.com/2012/01/26/3691451/amr-seeks-more-time-to-renegotiate.html#storylink=cpy