AMR Seeks Approval For $785M In Financing Secured By Airplanes In Its Fleet

AMR Seeks Approval For $785M In Financing Secured By Airplanes In Its Fleet

NEW YORK - Bankrupt AMR Corp. on Oct. 2 moved in the U.S. Bankruptcy Court for the Southern District of New York for approval of $785 million in post-petition financing, also called debtor-in-possession (DIP) financing, which would be secured by planes currently in American Airlines' fleet (In Re: AMR Corporation, No. 11-15463, Chapter 11, S.D. N.Y. Bkcy.).

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