Creditors group backs new board at stand-alone AMR

Creditors group backs new board at stand-alone AMR

Credit: AP

FILE - In this Feb. 9, 2010 file photo, an American Airlines passenger checks the departure board for flight delays and cancellations at O'Hare Airport in Chicago. Federal officials are expected to announce this week a plan to raise the maximum amount that airlines must pay passengers who get bumped off an oversold flight, currently at $400 or $800 depending on how long a trip is delayed. (AP Photo/Jim Prisching, File)

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by Associated Press

WCNC.com

Posted on November 29, 2012 at 5:35 PM

DALLAS (AP) -- A group of creditors says that if American Airlines parent AMR Corp. emerges from bankruptcy as an independent company it should have a new board of directors. 

The group represents financial investors that as of September included J.P. Morgan Chase & Co. along with various investment firms holding AMR bonds. 

AMR filed for bankruptcy protection a year ago Thursday. 

It's not unusual for corporate boards to be reshuffled during bankruptcy, although pressure from creditors is usually applied away from public view.
 

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