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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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AMR CEO Makes Case for Independence

Category : Business, Stocks

DALLAS (TheStreet) — The board of AMR is not going to turn the airline over to US Airways without a fight.

On Monday, as AMR’s attorneys tried to convince a bankruptcy court judge to abrogate its existing labor contracts, CEO Tom Horton reasserted his plans for American to remain independent, despite the surprise announcement on Thursday that US Airways had reached a tentative contract agreement with American’s three principal labor unions.

“It’s easy to understand US Airways’ sense of urgency to find a way to address the challenges it has faced for a long time,” Horton wrote in a letter to employees. “But I want you to understand these developments in no way alter our course.”

Click to view a price quote on AAMRQ.PK.

Read more: AMR CEO Makes Case for Independence

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