AMR is approved to extend periods of reorganization and solicitation

By Sahara Marte

New York, July 19 - AMR Corp. was granted approval to extend its exclusive periods to file a plan of reorganization and solicitation votes at a hearing Thursday in the U.S. Bankruptcy Court for the Southern District of New York.

Judge Sean Lane extended the exclusive filing period until Dec. 28. The solicitation period was extended until Feb. 28.

The company plans to set up a plan before finalizing any partnering deals, said AMR's attorney, Alfredo Perez, partner at Weil, Gotshal, and Manges.

The motion was supported by all creditors, including US Airways Group Inc., AMR's newest creditor and "prospective merger partner."

Lane did not want the company to discuss any partnering details at the extension hearing.

"Negotiation is the goal," Lane said while approving AMR's extension period.

AMR, the Fort Worth-based parent of American Airlines, filed for bankruptcy on Nov. 29, 2011. Its Chapter 11 case number is 11-15463.

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