AMR bonds signal plan to ditch older jets in bankruptcy
AMR Corp. (AMR) bonds signal its American Airlines unit will retire older jets in bankruptcy, punishing investors in debt backed by the planes while those secured by newer aircraft indicate lenders will be paid in full. American's notes maturing in May 2021 and backed by 32 out- of-production jets traded at 51.5 cents on the dollar, while bonds due in July 2019 and secured by newer Boeing Co. aircraft traded at 103.5 cents.
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