Airlines Forecast Post-Merger Profits
US Airways and American Airlines said they anticipate the merged company would earn a profit of $2.6 billion this year and remain profitable through 2017, excluding one-time items.
AMR files bankruptcy exit plan in step towards merger with US Airways
NEW YORK - AMR Corp, the parent company of American Airlines, filed formal plans to exit bankruptcy on Monday, bringing its proposed $11 billion merger with US Airways Group closer to reality.
Found 1 month ago on channel Reuters
Investment Firms in Talks to Buy Frontier Airlines
Two investment firms are in discussions with Republic Airways Holdings to acquire discount-carrier Frontier Airlines in a deal that could be valued at more than $1 billion including debt, said people close to the negotiations.
Banks Pressure Kingfisher Airlines
Banks increased pressure on India's Kingfisher Airlines in an attempt to recover $2.5 billion in debt, testing liquor mogul Vijay Mallya's ability to get the carrier flying again.
Judge Approves American-US Airways Merger
(NEW YORK) — American Airlines won bankruptcy court approval Wednesday to combine with US Airways and form the world’s biggest airline. “The merger is an excellent result. I don’t think anybody disputes that,” Judge Sean H. Lane said before issuing his decision. (MORE: The Battle for the Future of American Airlines) But the judge declined to sign off on a proposed $20 million severance package for Tom Horton, currently the CEO of American’s parent AMR Corp. The approval is an important milestone for American, which filed for Chapter 11 in November 2011 after having long resisted using the bankruptcy process to cut labor and other costs. The merger still needs approval from Department of Justice antitrust regulators and US Airways shareholders. It is expected to close by the fall. The combined airline will have 6,700 daily flights and annual revenue of roughly $40 billion. The new American Airlines will fly slightly more passengers than United, the current No. 1. It will be run ...