New York, August 13 (FinanceEnquiry.com) – Chief Executive Officer (CEO), Tom Horton of AMR Corporation, the insolvent parent of American Airlines and third-largest carrier of the US, informed that the company has started weighing its strategic options which includes merger with US Airways Group, Inc (NYSE: LCC) and decision is expected to be taken within few weeks.
The company is weighing the options, so as to determine whether merging with an opponent will be profitable or going alone will generate more in recoveries for American’s creditors.
The company also informed about sending a non-disclosure agreement to LLC, a crucial member of Star Alliance, guided by United Airlines (NYSE: UAL) and Deutsche Lufthansa AG, for its review for a probable merger and it also dispatched alike agreements to further possible parties of merger.
Mentioning about indefensible labor costs, last year in November, AMR filed for bankruptcy, but in July 2012, it got permission from court to expand its exclusive right to represent a plan to come out from insolvency by December 28.
Post merger, AMR is expected to continue to be a part of oneworld, which is one of the airline associations of code-sharing focused on International Airlines Group, the parent of British Airways.
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