Judge Approves Boeing (BA) Deliver of 32 Plans to AMR (AMR) Beginning Next Year
Tweet
Share
E-mailGet Alerts AMR Hot Sheet
Join SI Premium – FREE
A U.S. Bankruptcy Judge, Sean Lane, has approved AMR’s (NYSE: AMR) previously scheduled purchase of 32 Boeing (NYSE: BA) planes. Deliver of the new plans is expected to begin next year.
The court approval was needed after the company filed for chapter 11 bankruptcy protection back on November 29th.
AMR has also recently received approval from a Judge to exit leases on 24 older aircrafts, which are not currently being used. Management reported it was not practical to keep the plans on its books anymore.
Shares of AMR are trading down roughly 5 percent on the day to $0.51 per share.
The court approval was needed after the company filed for chapter 11 bankruptcy protection back on November 29th.
AMR has also recently received approval from a Judge to exit leases on 24 older aircrafts, which are not currently being used. Management reported it was not practical to keep the plans on its books anymore.
Shares of AMR are trading down roughly 5 percent on the day to $0.51 per share.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boeing names Ryan Shedd as new SVP and controller
- Nu Skin EVP of global sales takes medical leave
- Lazard Global Total Return fund declares $0.1534 monthly distribution
Create E-mail Alert Related Categories
Corporate News, LitigationRelated Entities
BankruptcySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
