American and US Air spend the weekend getting the deal lined up and they'll be darned if they're going to see someone jump with the story before they're ready to crow about it for mass marketing potential.
US Airways Group Inc. and AMR Corp.’s American Airlines still are working on details of an $11 billion merger agreement, and any announcement would come no earlier than midweek, people familiar with the matter said.
The carriers had been heading last week toward board votes tomorrow and a possible announcement Feb. 12, said two of the people, who asked not to be identified because the talks are private. That time line will slip to later this week, they said.
The creditors committee in AMR’s bankruptcy, which has a meeting set for tomorrow, also would have to support any plan for a combination before the Fort Worth, Texas-based carrier could exit court protection.
Todd Lehmacher, a spokesman for Tempe, Arizona-based US Airways, declined to comment about the deliberations, as did Sean Collins, a spokesman for American. A tie-up between American, the third-largest U.S. airline, and No. 5 US Airways would create the world’s biggest carrier by passenger traffic.
Reuters reported earlier today on the new timetable for a merger announcement.
The case is in re AMR Corp., 11-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
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