AMR, the parent company of American Airlines, filed a joint petition with its creditors’ committee asking the bankruptcy court to extend the time within which it can file a proposed bankruptcy plan to exit its Chapter 11.  Currently, the exclusive period for AMR to propose a plan ends on January 28; however, the company has requested an extension until March 11.

If the judge does not extend the deadline, creditors or other parties could propose a plan for the court to consider.  This would include rival US Airways Group who wants to purchase American Airlines out of bankruptcy.

For more see, “American Airlines asks for more time to control bankruptcy.”