According to the Wall Street Journal, a merger of American Airlines and U.S. Airways could be announced as early as next week.
The Journal reports the two carriers are working out the last major details of the all-stock deal.
A source said the discussions are now at an "advanced stage" with AMR CEO Tom Horton, U.S. Airways CEO Doug Parker and a small group of advisors.
But there's still an issue of who will run the new company. It's believed Parker would take the lead and Horton would take an honorary position on the board, but his exact role remains undefined.
Some of American's largest creditors support a merger saying it would enable them to recover more money in the new airline.
American's unions are already on the record as supporting a merger.
American's board of directors is expected to meet early next week to have more formal merger discussions.
Wednesday, June 19 2013 6:51 PM EDT2013-06-19 22:51:22 GMT
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo.
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo. He is accused of driving without a license, then fleeing police, jumping a curb, and hitting Ariel and her grandmother as they were walking to school.
Wednesday, June 19 2013 6:13 PM EDT2013-06-19 22:13:15 GMT
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
Wednesday, June 19 2013 4:30 PM EDT2013-06-19 20:30:42 GMT
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
Wednesday, June 19 2013 4:13 PM EDT2013-06-19 20:13:39 GMT
The driver of the vehicle that left several people injured and a trail of destruction in the area of 2nd Avenue and East 4th Street in the East Village has been arrested.
The driver of the vehicle that left several people injured and a trail of destruction in the area of 2nd Avenue and East 4th Street in the East Village has been arrested.
Wednesday, June 19 2013 3:38 PM EDT2013-06-19 19:38:42 GMT
By MATT ALVAREZ NEW JERSEY (MYFOXNY) -- Nearly eight months later after Superstorm Sandy, many Jersey Shore families are still displaced from their homes. The storm destroyed Pam Vasquez's family home
By MATT ALVAREZ NEW JERSEY (MYFOXNY) -- Nearly eight months later after Superstorm Sandy, many Jersey Shore families are still displaced from their homes. The storm destroyed Pam Vasquez's family home
Wednesday, June 19 2013 1:46 PM EDT2013-06-19 17:46:33 GMT
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
