US Airways Said to Approach AMR Bondholders on Merger
Apr 24th, 2012, 02:53 PM
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US Airways Said to Approach AMR Bondholders on Merger
(Bloomberg) US Airways Group Inc. (LCC) is reaching out to AMR Corp. (AAMRQ)’s unsecured bondholders to widen support for a possible takeover bid for bankrupt American Airlines, two people familiar with the matter said. ..................(more)
The complete story is at: http://www.bloomberg.com/news/2012-0...on-merger.html
The complete story is at: http://www.bloomberg.com/news/2012-0...on-merger.html
Apr 25th, 2012, 07:20 PM
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More recent info. US Air is approaching bondholders, which turn out to be unsecured creditors.
Why, because of a liquidation, the unsecured creditors are screwed, as in they probably won't get an renumeration.
Unsecured creditors would be grasping for straws. No formal meetings have been held yet, just talks.
Boeing, a secured creditor, is supporting AMR. Why, competing airlines will have more planes in the air, probably built by Boeing.
Why, because of a liquidation, the unsecured creditors are screwed, as in they probably won't get an renumeration.
Unsecured creditors would be grasping for straws. No formal meetings have been held yet, just talks.
Boeing, a secured creditor, is supporting AMR. Why, competing airlines will have more planes in the air, probably built by Boeing.
Apr 25th, 2012, 08:32 PM
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Boeing doesn't care about competition. They care because US has been a mainly Airbus customer for a while. AA in constrast has been buying Boeing widebodies solely. They may lose a major customer if US' management takes over AA.
