AMR Said Ready to Explore Sale Among Options in Creditor Accord – 5.11.12

May 11, 2012

By Jeffrey McCracken and Mary Schlangenstein, Bloomberg News May 11 (Bloomberg) — American Airlines parent AMR Corp. will explore strategic options that include a possible sale under an agreement with the unsecured creditors committee in its bankruptcy, people familiar with the matter said. The process would begin this summer, before Americanís exclusive right to propose a reorganization plan expires in September, said the people, who werenít authorized to speak publicly. The creditors panel pressed AMR for such an agreement so that the airlineís review of its options would include studying a merger with US Airways Group Inc., said one of the people.