With US Airways tails in the distance, this American Airlines MD-82 departs from Atlanta. Photo: Mark Plumley – OPShots.net //
U.S. Airways Group Inc has made a formal merger proposal to American Airlines parent AMR Corp and its creditors that could value the combined airline at around $8.5 billion, a person familiar with the situation said on Friday.
Under the all-stock proposal US Airways made in mid-November at a meeting with AMR’s unsecured creditors committee, the bankrupt airline’s creditors would own 70 percent of the merged company and US Airways shareholders 30 percent, the person said.
via UPDATE 1-US Air makes AMR merger offer, Jan deal possible-source | Reuters.
