American Airlines Begins Seeking Consents to Amendments Relating to New York City Industrial Development Agency/JFK Airport Bonds
Posted on: Tuesday, 11 October 2005, 09:00 CDT
FORT WORTH, Texas, Oct. 11 /PRNewswire-FirstCall/ -- American Airlines, Inc., a wholly owned subsidiary of AMR Corporation , today announced that it has begun the process of seeking consents from bondholders to certain proposed amendments to documents relating to the outstanding $500,000,000 New York City Industrial Development Agency Special Facility Revenue Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2002A and 2002B (the "2002 Bonds") issued July 31, 2002. The proceeds of the Series 2002 Bonds were used to finance a portion of the cost of American's new terminal at JFK Airport. The proposed amendments are in contemplation of a potential offering of additional bonds, also to finance costs of the new terminal.
The proposed amendments would affect various changes to the terms of the Series 2002 Bonds, including changes which relate to certain potential enhancements of the collateral for the Series 2002 Bonds. Potential enhancements being considered include providing for an immediately effective leasehold mortgage and the provision of reletting rights to the Bond Trustee, both for the benefit of the bondholders. Certain other changes could adversely affect the security for the Series 2002 Bonds. Any new bonds issued to finance the terminal would be subject to the proposed amendments and would also benefit from any collateral enhancements. There is no assurance that the amendments will become effective, even if the requisite consents are received.
This news release is for informational purposes only and is not an offer to sell, or a solicitation of an offer to buy, any securities.
About American Airlines
American Airlines is the world's largest airline. American, American Eagle and the AmericanConnection(R) regional airlines serve 250 cities in over 40 countries with more than 3,800 daily flights. The combined network fleet numbers more than 1,000 aircraft. American's award-winning Web site, AA.com, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld(SM) Alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members serve more than 600 destinations in over 135 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com and AAdvantage are registered trademarks of American Airlines, Inc.
AmericanAirlines(R) We know why you fly(SM) Current AMR Corp. news releases can be accessed via the Internet. The address is http://www.aa.com/
American Airlines, Inc.
CONTACT: Al Becker, Corporate Communications of American Airlines, Inc.,+1-817-967-1577, or corp.comm@aa.com
Web site: http://www.aa.com/
Source: PRNewswire-FirstCall
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