Originally Posted by
diver858
What stops AA from cutting a deal with AMEX, Barclays and/or Chase, suitor(s) would advance the $1 billion to pay off Citi - possibly more.
Personally, I would LOVE to see Chase replace sh#ttybank.
The nearly $1 billion of outstanding debt is the small part of the obligation; the rest is the long-term contract between Citi and AA - Citi is alleging that rejecting that contract would result in several billion dollars of rejection damages. If upheld, those rejection damages would prevent AA from paying all unsecured claims at 100% (due to their size). That would certainly change the complexion of the AA POR.
One of the costs of integrating US and AA will be the buyout to get US out of its obligation with Barclays.