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American creditors to meet Monday to vote on merger

Feb 07, 2013 3:03 pm

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Tuesday, that’s the day. Most likely.

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AMR Corp creditors plan to meet on Monday to potentially vote on a merger agreement between the bankrupt parent of American Airlines and US Airways Group Inc, several people familiar with the matter said.

The two airlines are working to finalize an agreement over the weekend so the board of each company could also meet to vote on the deal on Feb. 11, the same day when AMR’s unsecured creditors committee is scheduled to convene, the people said.

If the parties meet this potential timetable – as currently envisioned but seen as aggressive – a merger agreement could come as soon as Tuesday, the people said, asking not to be identified because the matter is not public.

Discussions are continuing and could still fall apart, they cautioned. While timing of a deal remains fluid, there is desire to get it done before Feb. 15, the people familiar with the matter said.

Representatives of the creditors committee, AMR and US Airways declined to comment. (Reporting by Soyoung Kim in New York and Karen Jacobs in Atlanta; Editing by Phil Berlowitz)

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