AMR Working With Creditors For Financing
NEW YORK (AP) - The parent of American Airlines says a "group of substantial creditors" might be willing to provide financing as part of the airline's bankruptcy reorganization plan.
Fort Worth-based AMR Corp. says in a court filing Wednesday that the group "represents a substantial and diverse group of creditors of American." It asks for permission to pay the group's legal expenses.
AMR has said it'll study mergers with other airlines as part of its reorganization planning. US Airways Group Inc. has publicly said it wants to merge with American.
In the filing, AMR says one or more of its creditors is working with "have expressed an interest in participating and/or providing for equity and other financings" for AMR. The group is separate from the committee of unsecured creditors that will hold much of the sway over American's reorganization. However, it's not uncommon in bankruptcy cases for other creditors to organize to influence the process as well.
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