AMR Risks Losing Control of Bankruptcy Exit as Suitors Circle

American Airlines parent AMR Corp. risks losing control of its ability to exit bankruptcy as an independent carrier after three possible suitors emerged within two months of its Chapter 11 filing.

The outside interest means AMR may need to move sooner than planned on steps such as reworking labor contracts to cut costs, said Hunter Keay, a Wolfe Trahan & Co. analyst. The third-largest U.S. airline must craft a restructuring plan that can win over creditors who may receive alternative offers, he said.