AMR Corp., the airline merging with US Airways Group Inc., won a judge’s approval to borrow as much as $3.25 billion as it moves toward exiting bankruptcy, Bloomberg News reported. AMR, the parent of American Airlines, sought the financing to take advantage of low interest rates, fund costs tied to its reorganization and repay debt. The loans, approved yesterday at a court hearing by Bankruptcy Judge Sean Lane will be American’s “primary source” of financing for emerging from bankruptcy, said Richard Hahn, an attorney for the Fort Worth, Texas-based company. American filed for bankruptcy in 2011 and is planning to merge with US Airways to create the world’s largest airline. American is set to complete its bankruptcy reorganization through the merger with Tempe, Arizona-based US Airways later this year.
