DALLAS (AP) — More of the pieces seem to be falling into place and a picture is starting to emerge of what an American Airlines-US Airways merger might look like.
Including, who will run what could become the world's biggest airline.
Thomas Horton, the CEO of American parent AMR Corp., is in talks about becoming chairman if his company merges with US Airways, The Wall Street Journal reported, adding to indications that a deal could be close. The newspaper, citing people familiar with the matter, said the talks were still in flux and that Horton could wind up in some other role such as vice chairman if there is a merger.
US Airways Group Inc. has proposed that its chairman and CEO, Doug Parker, run the combined company.
AMR and US Airways declined to comment.
The airlines and AMR creditors are in advanced talks over a merger, but a deal is not a sure thing. The final sticking points are how much of the combined company would belong to AMR creditors and how much to US Airways shareholders, and which management team would lead it, according to people familiar with the talks.
On Tuesday two people familiar with the discussions told The Associated Press that a group of major bondholders has decided to support a merger rather than a rival plan for AMR to emerge from bankruptcy protection on its own. They spoke on condition of anonymity because the airlines are negotiating under a confidentiality agreement. The chief lawyer for the bondholders did not return messages for comment.