March 13 American Airlines parent AMR Corp
, which is planning to merge with US Airways Group
, has asked a judge for another extension of its
exclusive period to file a plan to exit bankruptcy.
The carrier and its unsecured creditors committee asked the
U.S. Bankruptcy Court on Wednesday to extend the time during
which creditors cannot pursue their own restructuring plans for
the airline to May 29. Currently, American has until April 15 to
file its reorganization plan.
American and US Airways announced their plan to combine last
month in an $11 billion deal that would form the world's biggest
"The requested extensions are necessary in order to
formulate, negotiate, and propose a Chapter 11 plan that
implements the Merger," the carrier's filing said.
The American-US Airways deal has long been telegraphed and
is supported by creditors.
The U.S. Justice Department requested additional details on
the merger plan on March 4, a common occurrence in antitrust
reviews of deals. The carriers expect the merger to close in the
AMR filed for Chapter 11 protection in November 2011, citing
high labor costs.