AMR Corp. received a bankruptcy judge's approval to borrow up to $3.25 billion as it prepares to exit bankruptcy protection.
The Fort Worth-based carrier had asked for the financing to reorganize and repay debt. The loans, approved by U.S. bankruptcy judge Sean Lane at a hearing on Thursday, will be backed by airport gates, take-off and landing slots and routes between the U.S. and South American, according to court documents.
AMR, the parent company of American Airlines, is set to merge with US Airways later this year upon emerging from bankruptcy. The merger still needs to be approved by government anti-trust regulators and US Airways shareholders.