AMR files bankruptcy plan

Victoria
By Victoria April 16, 2013 14:11

AMR files bankruptcy plan

AMR Corp., the parent of American Airlines, has filed a plan to exit bankruptcy protection, which revolves around the merger with US Airways
“After evaluating the potential strategic alternatives, it appeared that a business combination with US Airways was the only viable option for American to consider”, American said in the filing in US Bankruptcy Court in New York.
Although AMR CEO Tom Horton $19.9 million severance pay was rejected by bankruptcy Judge Sean Lane, the airline has said that it is a condition of the bankruptcy plan that Horton receives the compensation and has urged the judge to reconsider and approve the payment.

Victoria
By Victoria April 16, 2013 14:11
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