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American Airlines Statement About Collaborative Agreement With Unsecured Creditors' Committee

Stocks in this article: AMR





FORT WORTH, Texas, May 11, 2012 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation ("the Company"), said today that it has a joint protocol agreement under which the Company and the Official Committee of Unsecured Creditors agree to jointly complete certain actions. The actions contemplated by the agreement include developing potential consolidation scenarios, but the agreement is not an indication that the company intends to pursue a transaction of any kind.

Beverly K. Goulet, AMR's Chief Restructuring Officer, Vice President - Corporate Development and Treasurer, said, "The purpose of this collaborative joint agreement with the Committee is to reinforce and assure what we have stated before: what's best for our company, our people and our financial stakeholders will be determined by the facts in a disciplined manner and process. And this includes whether American will choose to pursue any combination down the road. This is the charge of the board of directors and the leadership team to be done in close collaboration with the creditors committee. It is best for all that this process be very clear so that we are not distracted or diverted by anything that does not serve the best interests of all our company's financial and other stakeholders. To be clear, American has committed to work in collaboration with the Committee to develop only potential consolidation scenarios and this agreement does not in any way suggest that a transaction of any kind or with any particular party will be pursued."

More information about American Airlines restructuring is available on the Internet at aa.com/restructuring. About American Airlines

American Airlines, American Eagle and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,500 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 9,000 daily flights to 150 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. AMR Corporation common stock trades under the symbol "AAMRQ" on the OTCQB marketplace, operated by OTC Markets Group.

Current AMR Corp. news releases can be accessed at http://www.aa.com 

SOURCE American Airlines

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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