Five US firms are advising on the largest aircraft order in history after AMR Corporation, the owner of American Airlines, agreed to acquire a total of 460 planes from Airbus and Boeing in a transaction worth more than $38bn (£23.5bn), reports The Am Law Daily.

American Airlines is being advised by Gibson Dunn & Crutcher corporate partner Robert Little in Dallas and Debevoise & Plimpton aviation chair John Curry in New York as co-counsel on the Airbus negotiations.