AMR Judge Greenlights $785M In Secured Aircraft Financing

Law360, New York (October 16, 2013, 1:39 PM EDT) -- AMR Corp. on Wednesday received a New York bankruptcy judge's approval to obtain up to $785 million in financing secured by 75 separate Boeing jets, saying it is necessary to amp up the carrier's liquidity moving forward.

U.S. Bankruptcy Judge Sean H. Lane called the financing "a good business deal" as he granted the airline's motion, which was supported by the committee of unsecured creditors and garnered no objections. Under the deal, the American Airlines Inc. parent will issue new bonds that would be secured by...
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