AMR, US Airways boards close in on merger decision

Posted at: 02/08/2013 7:58 PM
By: The Associated Press

DALLAS (AP) - The boards of American Airlines parent AMR Corp. and US Airways could decide early next week whether to merge their two companies and create an airline rivaling the world's biggest.

People close to the matter said Friday that the AMR board is scheduled to meet Monday, and directors of US Airways planned to meet over the weekend or Monday.              

They say that under the deal taking final shape, AMR shareholders would own slightly more than 70 percent of the new company's stock, but US Airways leader Doug Parker would be CEO.      

These people spoke on condition of anonymity because the talks are private.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)