American Airlines Takes Heat Over A Multi-million Dollar Luxury Townhouse In London

15 December 2011

According to American Airlines’ parent company’s bankruptcy filing, the company owns a multi-million dollar luxury townhouse property located in London and experts have made an estimate on the property and believe that it holds as much as $30 million in value.

The five-bedroom luxury townhouse in Kensington has been used by a number of senior executives of the company. American Airlines has also mentioned that the property was purchased some 20 years ago back when prices were not as high as they are today.

However, the company is now taking heat due to the property because, as stated by the president of the Transport Workers Union, the AMR executives ought to lose the property in the bankruptcy proceedings.

As of the moment, American Airlines is currently looking through all of its real estate holdings in accordance with the current case.