WSJ: AMR, US Airways Reach Settlement on Merger
The Wall Street Journal reported that AMR, parent of American Airlines, and US Airways Group agreed to concessions at key airports across the U.S. to settle the Justice Department’s antitrust suit, paving the way for a roughly $16 billion merger that will create the world’s largest airline.
The Journal said US Airways and AMR agreed to divest slots at Reagan National Airport near Washington that will reduce their combined daily departures there by about 15%, and to give up slots at La Guardia Airport in New York that will cut their service there by about 7%.
They also agreed to give up two gates at airports in Chicago, Los Angeles, Dallas, Boston and Miami; to retain virtually all of their hubs for at least three years; and for at least five years, maintain service to cities in six states that also joined the Justice Department’s suit, the Journal said.
To read the entire WSJ story, click here.
Previously on abfjournal: WSJ Reports Latest Setbacks for AMR-US Airways Merger, October 14, 2013