Skip to main content

AMR US Airways Said Near Merger Deal as Boards to Vote

Submitted by webadmin on

The boards of American Airlines parent AMR Corp. and US Airways Group Inc. are prepared to vote on a merger on Feb. 11 as executives and advisers work on final terms this weekend, Bloomberg News reported on Saturday. The sides have agreed that AMR's bankruptcy creditors would get 72 percent of the equity in the new carrier, with 28 percent for US Airways shareholders. US Airways Chief Executive Officer Doug Parker will run the airline as AMR CEO Tom Horton becomes non-executive chairman, according to the report. AMR's creditors committee is poised for a vote early next week on any merger accord, with an announcement as soon as Feb. 12.