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December 5, 2011

AMR Record $4.1 Billion Bankruptcy Cash Mutes Takeover Risk

"AMR Corp.'s $4.1 billion in cash, the most ever for a U.S. carrier entering bankruptcy, may help the parent of American Airlines preserve its independence.

Filing for Chapter 11 with that much in cash and short-term investments strengthened the third-largest U.S. airline company's control over its fate, unlike peers that restructured in the last decade, said James M. Higgins, an analyst at New York-based Ticonderoga Securities LLC."

Read more here.

December 5, 2011 in Current Affairs | Permalink

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