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Sunday, January 17, 2021

Judge sets dates for voting on AMR plan

FORT WORTH, Texas (AP) — American Airlines’ creditors could begin voting this month on the company’s turnaround plan and proposed merger with US Airways.

A federal bankruptcy judge in New York gave American’s parent company, AMR Corp., approval Friday to send solicitation material to creditors by June 20.

They’ll have until July 29 to vote.

If creditors go along, the judge could confirm the reorganization plan at a hearing scheduled for Aug. 15, clearing the way for AMR to combine with US Airways and emerge from Chapter 11 protection.

AMR CEO Tom Horton said his company was “in the home stretch of our restructuring.”

The merger is still being reviewed by antitrust regulators at the Department of Justice. Based on current figures, American would become the biggest airline in the world, surpassing United Airlines in passenger miles. Officials say American Airlines may name the company’s new management team as soon as this week.   

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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