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December 7, 2012
14:32 EDTLCC, AAMRQUS Airways said to offer AMR creditors merger offer, WSJ reports
US Airways (LCC) sent a merger proposal to the creditors of AMR Corp. (AAMRQ), the parent of American Airlines, that suggests US Airways CEO Doug Parker head a combined airline worth more than $8B, according to a Wall Street Journal report that cites people close to the discussions. The union representing AMR pilots also approved a new labor contract, and American is still pursuing efforts to emerge from bankruptcy as an independent airline, though sources cited for the Journal's report expect discussions between AMR, US Airways, and its creditors to continue into next year. Reference Link
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