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| Version 1 | Version 2 |
|---|---|
| American Airlines and US Airways poised 'to merge' | American Airlines and US Airways poised 'to merge' |
| (about 4 hours later) | |
| American Airlines and US Airways are planning to form one of the world's biggest airlines, according to media and newswire sources. | |
| The two boards are said by a number of unnamed sources to have met on Wednesday to approve the merger. | The two boards are said by a number of unnamed sources to have met on Wednesday to approve the merger. |
| A formal announcement is expected on Thursday. | A formal announcement is expected on Thursday. |
| The merger will bring American Airlines closer in value to rival Delta Airlines, with an estimated market valuation of $11bn (£7bn). | The merger will bring American Airlines closer in value to rival Delta Airlines, with an estimated market valuation of $11bn (£7bn). |
| The lion's share of the new company will be owned by American Airline's bankruptcy creditors, who will have 72% of the company, the reports say. | The lion's share of the new company will be owned by American Airline's bankruptcy creditors, who will have 72% of the company, the reports say. |
| Agreement | |
| American Airline's parent company filed for bankruptcy protection more than a year ago. | American Airline's parent company filed for bankruptcy protection more than a year ago. |
| With a history stretching back 80 years, five years' ago, American had grown to be the world's biggest airline. | |
| It was a pioneer of the loyalty programme for frequent fliers and also brought in the system of sliding prices according to demand. | |
| But deep losses pushed the company into bankruptcy, with the company blaming labour costs and the unions blaming poor management. | |
| US Airways, by contrast, has been profitable in recent years. | |
| The two companies have been in discussions since last August when they signed an agreement to exchange confidential information. | |
| The carrier will be run under the American Airlines brand, but the chief executive is expected to be the current US Airways boss, Doug Parker. | The carrier will be run under the American Airlines brand, but the chief executive is expected to be the current US Airways boss, Doug Parker. |
| Not including affiliates, it will have around 900 aircraft and run more than 3,000 flights, employing 100,000 people. | |
| The reported deal would need approval from competition regulators and a US bankruptcy court before going ahead. | The reported deal would need approval from competition regulators and a US bankruptcy court before going ahead. |
| After that, it could be years before passengers notice any changes. | After that, it could be years before passengers notice any changes. |
| The deal follows a period of intense consolidation for the US airline sector, with Delta hooking up with Northwest and Continental with United. | The deal follows a period of intense consolidation for the US airline sector, with Delta hooking up with Northwest and Continental with United. |