The parent company of American Airlines, AMR Corp. and US Airways Group are scheduled to meet on 13 February 2013. They consider to create world's largest airline by joining American Airlines & US Airways into one airline company.
Boeing 737-800 of American Airlines
The people said significant and substance point of deal have been decided, advisers were preparing presentations for the board of directors on the merger issue. Market capitalization approximately reach $10 billion and serve as the reorganization plan taking AMR out of bankruptcy protection. The two airlines is believed will be source of additional $ 1 billion in revenue and cost saving as well.
Some issue remained, which could delaying the scheduled board of directors meetings and the announcement of the merger by a day or maybe into next one week. American Airlines and US Airways are rush with the time to finish a deal before this Friday. When nondisclosure agreements some AMR bendholders signed expire. Some internal person said, if the negotiations are not completed, the bondholders could agree to extend into further negotiations, confidentially agreements.
Airbus A330-300 of US Airways
The CEO of AMR Tom Horton would become non-executive board chairman for limited term and the term is still on negotiate by this week. While US Airways CEO Doug Parker is believe to run a combined airline as new CEO.
The AMR creditors would own 72 percent of the airlines and the rest would be US Airways Group. Also they discussing the number of the board of director and who fill that position though. Negotiating potential equity awards and other compensation for the airline's new management and also all of employees as part of AMR's plan to emerge from bankruptcy.