Tue, Feb 21, 2012
Court Filings Show Plan To Save $750 Million Per Year In
American Airlines parent company AMR has asked the U.S.
Bankruptcy Court for the Southern District of New York for
permission to hire additional consultants to assist in its
restructuring, according to documents filed with the court.
The court gave the company interim approval last week to hire 13
consultants to create it's plan to emerge from bankruptcy. The
additional firms would advise AMR in the areas of employment
management, airport facilities, property tax, and other special
bankruptcy issues, according to a report in Tulsa World. It has
sought permission to bring on the Boston Consulting Group Inc. as
strategic management consultants.
The court filings bring the company's plan to save $750 million
per year in costs through such measures and grounding older planes,
restructuring its debt and leases, and facilities reduction.
AMR has already announced the retirement of two senior vice
presidents as part of the management reorganization, and that the
senior staff has been reduced from 14 to 10.
It also wants to hire AvAirPros to evaluate its real-estate
holdings, as well as other companies including a law firm with
international expertise. The company says it will need 8 months to
complete its reorganization plan.
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