(Reuters) - The chief executive of bankrupt AMR Corp
Chief Executive Tom Horton made the comments as part of an update on merger discussions during a gathering of the airline's official creditors committee, which holds sway over how AMR will exit bankruptcy, the Journal reported, citing people close to the discussions.
AMR declared bankruptcy last November. The company has said it must save more than $1 billion in labor costs to become profitable.
Horton expects American Airlines creditors to receive more than 70 percent of the shares of a combined airline, the people told the paper.
(Reporting by Sakthi Prasad; Editing by Matt Driskill)