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Wednesday, October 10, 2012

AA Seeks $1.5 Billion in Financing for Planes

American Airlines (AA) and its parent company AMR filed a motion with the U.S. Bankruptcy Court seeking up to $1.5 billion in post petition financing for the purchase of new aircraft.

The bankrupt carrier is seeking the new financing for purchases of up to 41 Boeing 737-823 aircraft, 14 Boeing 757-223 aircraft, one Boeing 767-323ER aircraft and 19 Boeing 777-223ER aircraft as part of a new enhanced equipment trust certificate.

AA’s request to obtain new financing will be considered during an Oct. 30 hearing.  

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