The American Lawyer: Haynes and Boone Flies on American Eagle Airline Spin-Off
Haynes and Boone is advising American Airlines parent AMR Corporation on the proposed spin-off of regional carrier American Eagle as the company aims to raise cash. AMR lost $286 million in the second quarter because of rising fuel costs.
The Dallas-based firm is just one of several working with the country's fourth-largest airline operator on strategic initiatives. AMR announced on Wednesday a purchase of 460 planes from Airbus and Boeing in a deal valued at more than $38 billion. Five Am Law 200 firms landed the legal work on that purchase.
Haynes and Boone is counseling the company on a wide range of legal issues related to the spin-off, including strategic analysis of flight structures, preparation of necessary regulatory and securities filings, renegotiation of current contract terms, and restructuring of financial arrangements and pension, stock, and benefits issues for employees.
Corporate finance partner Janice Sharry, M&A partner Garrett DeVries, employee benefits partner Greta Cowart, restructuring partner Robert Albergotti, and finance and aviation industry partner Sue Murphy in Dallas lead the team advising Dallas-based AMR.
Excerpted from The American Lawyer, July 22, 2011. To view the full article, click here.