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American Airlines plans to sell London town house for $23 million

December 20, 2012|By Hugo Martin
  • AMR, the parent company of American Airlines, plans to sell its London town house.
AMR, the parent company of American Airlines, plans to sell its London town… (Reuters )

From now on, when American Airlines executives visit London, they are going to have to check into a hotel, like most of us.

That's because the airline, whose parent company filed for bankruptcy last year, notified the bankruptcy judge that it is selling a 5,242-square-foot house it owns in the Kensington district of London.

After marketing the town house for four months, American Airlines has agreed to sell the property for $23 million to CG Property Nominees Limited, according to court records.

The airline filed a notice Wednesday about the pending sale to get the approval of the bankruptcy judge. A hearing on the sale is scheduled for Jan. 9 in New York.

News of the sale was posted on the website of the Assn. of Professional Flight Attendants, which has criticized the airline for owning the property in the first place.

"We cannot help but wonder why the company waited so long to sell the 5,200 sq. ft. luxury home," the group said on its website.

The association suggested the airline might have delayed sale of the town house so executives could use it during the Wimbledon Championships in June and July in London.

American Airlines declined to comment on the charges of the flight attendants. But airline spokesman Sean Collins said the sale will "enable American to realize immediate funds that will increase the pool of assets available for our creditors."
 
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Follow Hugo Martin on Twitter at @hugomartin

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