Boards of AMR and US Airways to Meet Next Week over Airline Creation
US Airways' board and the board of AMR Corp., American Airlines parent, are being expected to reach a decision by early next week whether they would combine with each other. Since, an airline is to be created that could rival the biggest airline of the world.
Two main issues, that are outstanding, are being tried to be fixed by the two sides. One issue is the division of ownership, while the other one is the dissection of management roles.
It has been found that negotiators have agreed on a split. The same would be offering AMR bankruptcy creditors, the new company's stock by a bit more than 70%. The rest of the stock would be given to US Airways shareholders, people close to the matter have told on the condition of anonymity.
Sources have said that directors of US Airways Group have decided to meet at the weekend or Monday, whilst the AMR board has thought to meet on Monday.
US Airways stands at the fifth place on the list of biggest airlines, while America is the third-biggest airline in the nation. It is being believed that they both would together prove to be bigger than the current world leader i. e. United Continental Holdings.
However, the latter would still be the largest in case regional operations like `United Express' and `American Eagle' are considered.
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