On Wednesday, U.S. Bankruptcy Judge Sean Lane approved the plan of American Airlines parent company: AMR Corp to merge with US Airways. The merger still needs regulatory approval. American Airlines must also construct a formal restructuring plan that incorporates the merger. If the courts and creditors approve this plan, then the airline can emerge from the bankruptcy status it has held since November, 2011. American was the last of the major US legacy airlines to go through the Chapter 11 process. They filed for bankruptcy citing untenable labor costs after years of fruitless negotiations with…
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AMR Corp. is seeking more time to resolve its Chapter 11 bankruptcy case. The Fort Worth-based airline company filed a joint motion Tuesday with the Unsecured Creditors Committee in the case requesting another 30 days to file an exclusive restructuring plan, the Dallas Business Journal reports. AMR – the parent company of American Airlines and American Eagle – and the UCC propose to push the exclusivity period to file a plan from Dec. 28 to Jan. 28. They also want to push the deadline for gaining acceptance of that plan from Jan. 28 to March 28.