AMR and American Airlines Receive Court Orders Enabling Continued Normal Business Operations
American Airlines and American Eagle Continue to Deliver for Customers
FORT WORTH, Texas, Nov. 30, 2011 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation, announced that Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York yesterday granted approval of a series of first day motions filed by the Company to help facilitate American's and American Eagle's continued normal business operations throughout the reorganization process.
The Company also reported that, as expected, American and American Eagle continued normal operations yesterday, with flights, reservations, baggage handling, customer service and other functions operating as usual.
"American continues to make progress on our path to a successful future," said Tom Horton , Chairman, President and Chief Executive Officer of AMR and American Airlines. "The Court's immediate approval of key motions ensures that customers around the world can continue to rely on American and American Eagle for safe, reliable and convenient air travel. As American's employees have continued to demonstrate, we are committed to our customers and we are confident in our future."
American received authorization to, among other things:
Provide employee wages, health care coverage, vacation, and other benefits, without interruption;
- Honor tickets and reservations, and provide refunds and exchanges as usual;
- Fully maintain AAdvantage® frequent flyer and other customer service programs, and ensure all AAdvantage miles and elite status earned by members remain secure and intact;
- Continue payments under existing fuel supply contracts;
- Assume interline, clearinghouse, Airline Reporting Corporation (ARC) and similar agreements; and
- Continue to use existing cash management systems and maintain existing bank accounts.
As announced earlier yesterday, AMR and certain of its U.S.-based subsidiaries filed to reorganize under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. The case number for AMR is 11-15463, and the case number for American Airlines is 11-15464. More information about American Airlines Chapter 11 filing is available on the Internet at AA.com/restructuring. The Company is providing ongoing access to court documents, including today's Orders, at www.AMRcaseinfo.com. Information for suppliers and vendors is available at (866) 736-9011 or (703) 286-2757, or by sending an email to firstname.lastname@example.org.
AMR's lead counsel is Weil, Gotshal & Manges LLP and its financial advisor is Rothschild, Inc.
About American Airlines
American Airlines, American Eagle and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,300 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 10,000 daily flights to 149 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. (NYSE: AMR).
Forward Looking Statement
This press release contains "forward-looking statements." These statements are based on AMR management's current expectations and assumptions, and as such involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that the Company now anticipates — both in connection with the Chapter 11 filings the Company is announcing today and AMR's business and financial prospects. Statements of management's expectations, including its desire to successfully restructure in order to return the Company to long term viability and financial strength, to compete effectively in the marketplace, to cut costs and to restore profitability, are based on current assumptions and expectations. No assurance can be made that these events will come to fruition. Readers are referred to the documents filed by the Company with the Securities and Exchange Commission, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. Those risks include, without limitation, the potential impact of volatile and rising fuel prices and the potential negative impact of the recent credit downgrade. The Company disclaims any obligation to update any forward-looking statements.
Current AMR Corp. news releases can be accessed at http://www.aa.com
SOURCE AMR Corporation
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