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American Airlines Parent Asks Court to Approve Jet Buys

American Airlines parent AMR Corp. (AAMRQ) has asked its bankruptcy judge for assurance its Chapter 11 case won't get in the way of its plans to purchase as many as 14 airplanes made by Boeing Co. (BA) next year to refresh its aging fleet. Looking to avoid a fight with the airline's creditors who are watchdogging its spending throughout its restructuring, the company's bankruptcy attorneys asked Judge Sean H. Lane of the U.S. Bankruptcy Court in Manhattan to reinforce that the company has the power to buy new 777 airplanes at will until the end of next year. The company also asked Judge Lane to approve the procedures the airline would use to execute the purchases of the airplanes, including giving notice to the company's official committee of unsecured creditors and allowing them enough time to object to the spending. "The proposed procedures permit the [company] to carry out routine aircraft purchases, which are vital to their ongoing operations, in an efficient and economic manner," AMR Corp. attorneys said in court papers. Judge Lane is expected to look over the proposal, which requires his approval, at a July 19 hearing. In court papers, airline attorneys reminded the court they got authorization early on in the case to continuing buying and leasing aircraft, for the most part without much restriction. "Out of abundance of caution...and to allay any concerns of Boeing, the [airline and its affiliates] are seeking approval of the procedures," the company said in court papers. AMR filed for Chapter 11 protection in November after failing to negotiate new union agreements that would have helped it cut $2 billion in yearly costs. Throughout the case, attorneys have tried to hammer out less-burdensome labor agreements while weighing a merger with US Airways Group Inc. (LCC). (Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com.) Write to Katy Stech at katherine.stech@dowjones.com

Stock News for Us Airways (LCC)
DateTimeHeadline
11/27/201311:30:08Judge Approves AMR, US Air Settlement
11/25/201315:30:26Judge to Rule Soon on DOJ Deal with AMR, US Air
11/15/201309:10:30Caxton Associates LP 3Q 13F: Largest Eliminations
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:10:27Caxton Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201306:57:25Millennium Management 3Q 13F: Largest Eliminations
11/15/201306:57:17Millennium Management 3Q 13F: Largest Eliminations -2-
11/15/201306:57:17Millennium Management 3Q 13F: Largest Sales
11/15/201306:57:17Millennium Management 3Q 13F: Largest Purchases
11/14/201307:19:32The Vanguard Group 3Q 13F: Largest Purchases -2-
11/14/201307:19:32The Vanguard Group 3Q 13F: Largest Purchases
11/13/201315:50:04Delta Aims to Bid for Airport Slots
10/23/201309:20:14US Airways Profit Down 12%
10/18/201313:21:13Jobs Report, Apple Event, Fed Reserve Meeting -- Week Ahead
10/17/201310:30:14AMR Swings to 3rd-Quarter Profit
10/16/201312:55:01Judge Approves American's $785 Million Aircraft Financing Pact
10/04/201314:50:11US Air CEO 'Highly Confident' Merger Will Close
10/01/201310:00:11Justice Dept. Seeks Stay of US Air-AMR Case

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