NEW YORK (TheStreet) -- Shares of American Airlines Group Inc. (AAL) are down -4.04% to $42.09 after a federal judge yesterday approved about $400 million in fees and expenses owed to the professionals responsible for guiding American Airlines through its Chapter 11 restructuring, the Wall Street Journal reports.
During a hearing at the U.S. Bankruptcy Court in Manhattan, Judge Sean Lane signed off on a recommendation from a fee examiner that proposed paying $16.3 million in expenses and $371.7 million in fees to 47 professional firms, including lawyers, accountants, consultants and other advisers, the Journal said.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts