Tuesday, 1 January 2013

American Air Pilots Approve MOU On Merger

Union leaders who represent American Airlines' pilots approved a tentative agreement on Saturday for how the airline could merge with US Airways.
The board of the Allied Pilots Association (APA) said it voted 11-5 to approve a memorandum of understanding that, with approval of other parties, "would serve as a framework for an agreement" if the airlines merge.
The union declined to provide details of the agreement, citing a non-disclosure agreement it signed as a party to the merger talks.
American, which is restructuring in bankruptcy court, is in talks to merge with US Airways. American could merge as part of the structuring process or exit bankruptcy and then decide whether to merge. A merger could be announced as soon as January 9, when AMR's board is due to meet.
A framework for the union agreements are a crucial part of the merger discussions. The APA said it is in talks with officials from American's parent, AMR, US Airways and the US Airline Pilots Association, which represents US Airways pilots. Also included in the talks is the Unsecured Creditors Committee, which represents creditors of American.

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