$20 Million Severance for American Airlines Exec. Questioned
Company going through bankruptcy proceedings
The U.S. trustee overseeing the bankruptcy proceedings for American Airlines' parent company is questioning a $19.9-million severance package for the company's top executive.
In a filing made last week, Trustee Tracy Hope Davis said the airline, which filed for bankruptcy in 2011, is obligated to explain the severance package it proposes for its Chief Executive Tom Horton.
AMR plans to merge with US Airways Group, the parent company of US Airways, to form what is expected to be the nation's largest airline.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?