3 DECEMBER 2012
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Trading under the Chapter 11 rules, American Airlines (AA) has asked a US bankruptcy court to extend the period during which it has the exclusive right to file a plan for emerging from bankruptcy reorganisation. AA is a partner of British Airways and member of oneworld.
The request came as ‘American’ passed the one-year mark of its filing for insolvency protection. The Dallas/Fort Worth-based company wants its period of exclusivity extended to 11 March. Without an extension, the exclusivity window would expire 28 January, at which point rival restructuring plans could be submitted.
American Airlines told the court that the filing of multiple plans could be disruptive to its effort to emerge from the condition it found itself in November 2011.
The court is expected to rule on the extension later in December. It has approved American’s previous requests for extensions of the exclusivity window. www.aa.com
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