* American Airlines parent seeks 6-month extension
* "Exclusivity" period would run to Sept. 28
* AMR filed for Chapter 11 protection in November
March 8 The parent of American Airlines on
Thursday asked a federal bankruptcy judge to extend by six
months the period in which it has the exclusive right to file a
Thursday's request by AMR Corp to extend the
"exclusivity" period to Sept. 28 was expected, and came one day
after the Fort Worth, Texas-based company proposed to freeze
pensions for many of its workers, retreating from a proposal to
AMR's initial exclusivity period was just 120 days, and the
law allows courts to grant extensions up to but not beyond 18
months after a Chapter 11 filing. Thereafter, others may file
competing plans. AMR filed for court protection last Nov. 29.
"The relief requested will allow American to continue
focusing on preserving and enhancing going concern values and
restructuring American's financial condition and operations,"
AMR said in a filing with the U.S. bankruptcy court in
Such a restructuring would help "achieve a competitive and
sustainable cost structure and, thus, achieve the objectives of
chapter 11 -- a successful rehabilitation," AMR added.
A March 22 hearing on the request has been scheduled.
American is the 3rd-largest of the so-called U.S. legacy
carriers, after United Continental Holdings Inc and
Delta Air Lines Inc.
Delta, smaller rival US Airways Group Inc and
private equity firm TPG Capital have been studying whether to
bid for AMR, people familiar with the matter have said.
The case is In re: AMR Corp, U.S. Bankruptcy Court, Southern
District of New York, No. 11-15463.