February 08, 2013
(Reuters) AMR Corp (AAMRQ.PK) creditors plan to meet on Monday to potentially vote on a merger agreement between the bankrupt parent of American Airlines and US Airways Group Inc (LCC.N), several people familiar with the matter said.
The two airlines are working to finalize an agreement over the weekend so the board of each company could also meet to vote on the deal on February 11, the same day when AMR's unsecured creditors committee is scheduled to convene, the people said.
If the parties meet this potential timetable - as currently envisioned but seen as aggressive - a merger agreement could come as soon as Tuesday, the people said, asking not to be identified because the matter is not public. Granite countertop installers near me best granite countertop installers.
February 08, 2013
(Dallas Morning News Airline Biz Blog) The three unions representing American Eagle’s employees asked the U.S. Bankruptcy Court to delay a deal in which competitor Republic Airlines would operate jets under the American Eagle brand.
The deal, signed Jan. 23, would have Republic Airlines operate 76-seat jets to feed American Airlines flights, primarily into and out of Chicago’s O’Hare International Airport. The initial deal involves 53 jets, although Republic could acquire another 47 to operate on American’s behalf in the 15-year deal.
The Association of Flight Attendants, the Transport Workers Union and Air Line Pilots Association filed by their objections before the 4 p.m. EDT deadline to respond to the AMR motion. U.S. Bankruptcy Judge Sean Lane is scheduled to consider the matter Thursday, Feb. 14.
February 08, 2013
(Bloomberg) US Airways Group Inc.’s merger talks with bankrupt American Airlines are intensifying as the sides try to agree on control of a combined company before confidentiality accords expire next week, people familiar with the matter said.
No decisions have been made on how ownership would be split between creditors of American parent AMR Corp. and US Airways investors or who would lead the carrier, said four of the people, who asked not to be identified because the discussions are private.
A deal would create the world’s largest airline, vaulting it past the rivals that eclipsed American amid a consolidation wave during the past decade. A combined carrier would be valued at almost $13.1 billion, according to Dan McKenzie, a Buckingham Research Group Inc. analyst in New York.