American unions support possible US Air merger
POSTED: Friday, April 20, 2012 - 10:33am
UPDATED: Friday, April 20, 2012 - 10:44am
NEW YORK — Workers for three American Airlines unions have agreed to support a potential merger with US Airways Group, according to a US Air document filed with the Securities and Exchange Commission on Friday.
The unions - the Allied Pilots Association, the Association of Professional Flight Attendants and the Transport Workers Union - represent 55,000 employees, US Airways said in the filing.
But the airline also pointed out that a deal has not gone through yet.
"Today's news does not mean we have agreed to merge with American Airlines," wrote US Airways Chief Executive Douglas Parker in a letter to his employees. "It only means we have reached agreements with these three unions on what their collective bargaining agreements would look like after a merger, and that they would like to work with us to make a merger a reality."
Parker outlined the things that need to occur in order for a merger to become a reality.
"To get to an actual merger, many more things must happen, including gaining the support of AMR's creditors, its management team and its Board of Directors," he wrote. "But this is obviously an important first step along that path and we are hopeful we can all work together to make this happen."
US Airways stock dipped more than 2% on the news.
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