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Monday, December 10, 2012

American Airlines wants quick decision on merger -CEO Horton, (NYSE: LCC)

American Airlines wants a quick resolution one way or another on whether to pursue a merger with US Airways Group Inc or emerge from Chapter 11 on a stand-alone basis, AMR Corp Chief Executive Tom Horton said on Monday.Now that labor contracts have been ratified by all the American Airlines unions - including by pilots last week - the carrier can work on its reorganization plan, under which it will propose emerging from Chapter 11 as either an independent carrier or as part of a merged entity, he said."The company's plan is coming together and that plan will allow for an evaluation of a combination, which we're going to try to see if that is something that could create value for our owners and create a better outcome for our people and our customers," Horton told Reuters in a telephone interview. "Either now, or on the other side of the restructuring."US Airways made a formal merger proposal to American parent AMR and its creditors that values the combined airline at around $8.5 billion, people familiar with the matter have said.

US Airways Group, Inc. (US Airways Group) is a holding company whose primary business activity is the operation of a network air carrier through its wholly owned subsidiaries, US Airways, Piedmont Airlines, Inc. Shares of LCC traded higher by 0.08% or $0.01/share to $12.78. In the past year, the shares have traded as low as $4.97 and as high as $14.51. On average, 6003290 shares of LCC exchange hands on a given day and today's volume is recorded at 4620131.



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