Question for AA73 and 7576FO
I picked this off msn.com under key developments for AMR. Is AMR cashing out it's capital in the ATR 72s? This is an interesting move to me, much like the sale of American Beacon was. These guys are tough to follow.
AMR Corp.'s American Airlines Announces Sale and Leaseback of 39 ATR 72 Aircraft
December 2, 2008Nordic Aviation Capital A/S (NAC) and KIRK Kapital A/S announced an agreement for a sale and leaseback transaction with AMR Leasing Corporation, a wholly-owned subsidiary of AMR Corp. for 39 ATR 72 aircraft operated by Executive Airlines, Inc., also a wholly-owned subsidiary of AMR Corp. doing business as "American Eagle". AMR Leasing Corporation will sell the 39 ATR 72 aircraft to an entity that will lease the aircraft to NK Aviation Limited, Ireland, a newly formed joint venture between NAC and Kirk Kapital A/S. Executive Airlines will lease the aircraft back through a sublease structure and will continue to be the operator of the aircraft. NAC will be the servicer for the aircraft.