AMR Corp says American Airlines pays off 285 mln usd balance of credit facility |
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Published
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Fri, 30 Mar 2007 17:32
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LONDON (AFX) - AMR Corporation, the parent company of American Airlines Inc, said American has paid in full the 285 mln usd balance of its senior secured revolving credit facility, which had been fully drawn since its establishment in December 2004.AMR said its 444 mln usd loan facility remains outstanding.In a statement updating its position, AMR said its wholly-owned subsidiary American Eagle Airlines Inc prepaid 79 mln usd of aircraft debt last month.AMR said it expects to end the first quarter of 2007 with 5.8 bln usd in cash and short term investments, which includes a restricted balance of 500 mln usd. This compares to a cash and short tern investment balance of 4.8 bln usd, including a restricted balance of 510 mln usd in the first quarter of 2006.At the end of the fourth quarter of 2006, AMR said it reduced its total debt to 18.4 bln usd compared to 20.1 bln usd a year earlier.AMR said it expects to end the first quarter of 2007 with total debt of around 17.6 bln usd.newsdesk@afxnews.comjagCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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