S&P Report Answers Frequently Asked Questions About The AMR Corp. And American Airlines Bankruptcy Dec 11
Standard & Poors, December 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 2, 2011--Standard & Poor's Ratings Services today addressed some common investor questions regarding the bankruptcy proceedings of AMR Corp. and its American Airlines Inc. subsidiary (both rated 'D'). The two companies filed for Chapter 11 bankruptcy protection on Nov. 29, 2011. American is the last of the large "legacy" U.S. airlines to enter bankruptcy. AMR made this move--which represented a change in management's previously stated strategy--quickly in the wake of setbacks in American's long-running contract negotiations with its pilots. "We believe several factors were behind the company's decision," said Standard & Poor's credit analyst Philip Baggaley. "Although AMR still had adequate liquidity to meet at least its near-term needs, it likely would have faced...
Companies mentioned in this report are:
- AMR Corp.
- American Airlines Inc.
- Boeing Co.
- Delta Air Lines Inc.
- Southwest Airlines Co.
- US Airways Group Inc.
- United Continental Holdings Inc.
- British Airways PLC
- Northwest Airlines Corp.
- Japan Airlines Corp.
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- AMR Corp.
- American Airlines Inc.
- Boeing Co.
- Delta Air Lines Inc.
- Southwest Airlines Co.
- US Airways Group Inc.
- United Continental Holdings Inc.
- British Airways PLC
- Northwest Airlines Corp.
- Japan Airlines Corp.
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