Bankrupt airline has one of the most expensive houses in Britain

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This five-bedroom in an exclusive area of London could get up to 20 million pounds ($ 31 million), according to a broker. Owner of AMR Corp., the airline is in the bankruptcy protection with debts of around 30 billion $.

By Rhys Jones and Chris Wickham, Reuters

Is buried deep in American Airlines Chapter 11 bankruptcy filing a striking gut-- a town house in one of London's most expensive streets which property that experts say could be worth up to $ 30 million.

The five-room house in London end district Kensington is a relapse in the airline expansion from two decades and a 10-minute walk from the former House Princess Diana, with nobility and diplomats as neighbors is.

UK regulatory filings show that the House was used as residence for executives, including the current Chairman and CEO bought Thomas Horton, because the airline in the early 1990s.

The five-floor House Salzburg parent company AMR Corp., is declared as "London residence LON6526" one of the eight owned properties when it asked for the protection of creditors 30 November, sagging under $30 billion debt.

The plush residence in Cottesmore Garten--recently named Britain's 10-the most expensive address company Zoopla--property could be a thorn in the airline as they fight their way through bankruptcy.

Robert Mann, an airline consultant with RW Mann & co, which is a former fleet planning Executive at AMR, said that the ownership of the House by far is the biggest problem that the company is facing, but added that it would raise eyebrows and should probably be sold.

"Within the framework of a general debt clearing exercise, yes it back if they really want to, there to remain probably sold and leased." "If you can make $17 million, consider it to do."

American Airlines confirmed possession of the House, said that it is used by the senior officials of the international business "and for business activities from time to time"

Contacted last week, was first to say, whether it was planned to hold on the House, but when said in response to Reuters queries his ownership of the property.

"AMR can confirm that it is a property it bought in the 1990s as low property values were," the airline said. "However, as we work through our chapter 11 reorganization, we focus on achieving a competitive cost and debt structure and is, of course, check our use and ownership of these and all our real estate as part of this process."

A Trade Union expresses outrage through the 30,000 workers at American Airlines and American Eagle.

"In the current economic crisis many Americans have lost their homes." "In this bankruptcy, AMR executives lose their House, which", James C. little, President of the 200,000 Member said on Transport Workers Union of America, which is the airline's creditors.