Tue, May 15, 2012
AMR Corp. To Develop Possible Consolidation Scenarios
American Airlines reports that has agreed with creditors to consider potential merger situations while it reorganizes under bankruptcy protection. Parent company AMR Corp. said the company had agreed to develop consolidation scenarios but that did not indicate it would pursue a deal with any particular party. This development may suggest that events could be unfolding quicker than the airline expected since US Airways increased its merger rhetoric.
The Associated Press reports that AMR’s CEO Thomas Horton has maintained that he wanted American Airlines to emerge from bankruptcy protection as an independent company. However, US Airways has lobbied AMR's creditors and lined up support from American's three unions for a takeover.
A message of “no confidence” was delivered on Friday by hundreds of pilots and other employees to AMR headquarters in Fort Worth and New York. The unions believe a combined company would cut fewer jobs and stand a better chance at competing with industry leaders United and Delta.
US Airways praised AMR's decision, saying a combination would benefit both companies’ employees and customers as well as creditors and investors. Standard & Poor's, citing a Bloomberg News report earlier Friday, said news that AMR would consider a merger as an alternative to its stand-alone restructuring plan made it more likely that US Airways will acquire or merge with AMR. S&P analyst Jim Corridore said a merger would fix US Airways' weak international network and give it size to compete with bigger rivals.
Republic Airways Completes Sale To Investment Fund Republic Airways Holdings Inc. has closed on the sale of Frontier Airlines to an investment fund affiliated with Indigo Partners >[...]
It's Not Enough To Simply Get More Power... You Have To Do It Right ANN CEO and Editor-In-Chief Jim Campbell meets with Jim Shafer of Power Flow Exhaust Systems at EAA AirVenture 2>[...]
AD NUMBER: 2013-24-14 PRODUCT: Diamond Aircraft Industries GmbH Models DA40 and DA40F airplanes.>[...]
AD NUMBER: AD 2013-22-19 PRODUCT: All Gulfstream Aerospace Corporation Model GV and GV-SP airplanes.>[...]
NetJets Association of Shared Aircraft Pilots The NetJets Association of Shared Aircraft Pilots, more commonly referred to as NJASAP, represents the professional interests of the 3>[...]