US Airways’ Purchase of AMR Debt Stirs Controversy
by Joel R. Glucksman on August 7, 2012
In its continuing efforts to merge with bankrupt American Airlines, US Airways has made its most aggressive move yet and purchased a share of AMR’s debt.
US Airways announced it has purchased debt shares of AMR Corp. – parent company to American Airlines – which will give it standing in the company’s Chapter 11 bankruptcy case. US Airways has been seeking a merger with the distressed company for months, and has garnered strong support from American’s labor unions and investors. However, American Airlines has been considering a variety of options and has yet to determine the best outcome for its future.
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Bankruptcy Updates
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