American, US Airways make pitches to AMR creditors
The CEO of American Airlines parent AMR Corp. has said that if his airline merges with US Airways, AMR creditors should get most of the new airline's stock.
That's according to people familiar with the situation.
One of the people, who spoke on condition of anonymity because the companies have signed a confidentiality agreement, said AMR CEO Thomas Horton has said that AMR creditors should get considerably more stock in a combined airline than US Airways has so far proposed.
Horton made the comment during a meeting with a committee that represents creditors in AMR's bankruptcy case. Two people familiar with the discussions said US Airways Group Inc. officials spoke to the committee on Tuesday.
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