CHICAGO — Holders of bankrupt American Airlines Inc.'s New York City airport debt are weighing a settlement offer that would pave the way for the carrier to assume its lease at John F. Kennedy International Airport.

Resolution of the status and repayment of more than $1.4 billion of the airline's $3.2 billion of special facilities bonds would significantly advance its efforts to deal with its tax-exempt debt and move closer to exiting Chapter 11.

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