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AMR, US Airways Said to Agree on Terms for Merger

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By Mary Schlangenstein & Beth Jinks
Bloomberg.com

The board of bankrupt American Airlines parent AMR Corp. is meeting now to vote on a merger with US Airways Group Inc. after the two sides reached a tentative agreement that would create the world’s largest carrier, people familiar with the matter said.

The accord probably will go to US Airways’ board later today once AMR directors vote, said the people, who asked not to be named because the talks are private. Details of the proposal weren’t immediately disclosed.

Board approval would clear the way for an announcement tomorrow, the timetable drafted earlier this week as the two sides worked toward a final agreement, people familiar with the matter have said.

Click here to read more at Bloomberg.com

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