Sat, Jul 07, 2012
Requested For More Time To Formulate Exit Plan Will Delay Merger Talks
Any merger between AMR Corp, the parent of American Airlines and American Eagle, and US Airways Group would be unlikely before the end of the year, according to US Airways CEO Doug Parker. The message was sent in a Fourth of July note to the airline's employees.
US Airways has made no secret of its desire to make a formal bid for the struggling legacy carrier as it exits from Chapter 11 bankruptcy. But AMR recently asked a judge for more time to work on that exit strategy, which Parker (pictured) said would delay any formal bid. He said it was important to respect the bankruptcy process.
Reuters reports that Parker said that "there is no urgency to merge," and that as long as AMR remains in bankruptcy court, the speculation is likely to continue. Some of American's unions had called on the airline's management to open merger talks with US Airways, but American's pilot's union recently reached an agreement with the airline, and management is again talking with its flight attendants and mechanics.
Since declaring bankruptcy, American has held that it wants to emerge from the process as a stand-alone carrier, but has agreed to at least explore the possibility of merging with another airline. The unions had pushed for a deal with US Airways to help it with both its U.S. and international routes.
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