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American's $30M London pad

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For bankrupt American Airlines, there's an eyebrow-raising piece of real estate on its asset list, according to a Reuters report: A swanky townhouse in London that could fetch $30 million on the market.

American told Reuters that the five-bedroom house in London’s tony Kensington district is used by the senior official in charge of its international business "and for corporate functions from time to time." According to U.K. regulatory filings, the house has been used as a residence for senior executives, including current chief Tom Horton.

Reuters quoted airline consultant Robert Mann, who said that although the house is far from the biggest problem AA is facing (the house could be sold for upwards of 16 million pounds; the airline, Reuters said, is "sagging under $30 billion of liabilities"), he said it would raise eyebrows.

"As part of an overall debt-clearing exercise, yes it probably should be sold and leased back if they really want to stay there," he said.

Predictably, the Transport Workers Union of America, which represents 30,000 workers at AA, is outraged.

Dear Sir / Madam,
This House can not be sold under
The said Bankruptcy Law, as anything involved as
Company ASSETS is Impounded as the Meaning of
Lock Stock & Barrel it is then dispersed via the
appointed Liquidator etc AA COULD BE SOLD for one dollar with debts as seen in UK Etc
Posted by: Robert Winstone at 12/15/2011 8:56 PM

That's how teens fake it till they make it.
Posted by: cheap dress( Visit ) at 4/7/2012 3:29 AM

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