Wall Street Journal report: Two hedge funds charge American Airlines with not being transparent or i

Wall Street Journal report: Two hedge funds charge American Airlines with not being transparent or inclusive in its bankruptcy proceedings (Updated with American comment, 4:45 p.m.) | Airline Biz Blog
Two hedge funds holding American Airlines Inc. s debt charged in a letter to chief executive Tom Horton that the company s Chapter 11 bankruptcy proceedings have not been transparent and have excluded them from discussions about its plan to exit bankruptcy, The Wall Street Journal reported today .
Appaloosa Management and Marathon Asset Management exotic car rentals calgary said in a letter to Horton Thursday that together they hold more than $800 million of the Fort Worth-based airline and its parent AMR Corp. s debt, according to the article. The two funds said they aren t working together, but had shared concerns.
The funds main issues were about discussions AMR and advisers exotic car rentals calgary are having with an ad hoc committee of other bondholders about that group providing exotic car rentals calgary financing for the company and about its plans to exit bankruptcy, The Wall Street Journal reported. The funds indicated that American is intent on exiting bankruptcy as an independent airline with financing from certain creditors, it said.
Our objective, thorough strategic review of all alternatives is appropriately focused solely on creating maximum value for all stakeholders, exotic car rentals calgary American spokesman Mike Trevino today told The Dallas Morning News .
AMR creditors can buy shares of a new publicly traded company at a discount. Once AMR emerges from bankruptcy, creditors could end up owning a large chunk of stock in the new company and possibly appoint directors exotic car rentals calgary to the new company s board.
More in American Airlines , AMR and American Airlines bankruptcy Communications Workers of America activists and some American Airlines workers are handing leaflets to passengers at the Dallas/Fort Worth Airport 14 other airports (Updated with leaflet and American comment, 2:45 p.m.)