Andy Backover

AMR Pilots Back Contract as Boost Seen in Merger Process

American Airlines pilots approved their first new contract since 2003, securing the labor savings sought by parent AMR Corp. and giving a possible boost to US Airways Group Inc.’s push for a merger.

US Airways Said to Detail Merger Plan to AMR Creditors

US Airways Group Inc., pressing to take over AMR Corp.’s American Airlines in bankruptcy, made its case for a merger to the company’s unsecured creditors committee, three people familiar with the matter said.

US Airways Sees Progress Toward American Airlines Merger

US Airways Group Inc. is making “great progress” toward a merger with American Airlines that would cure network failings at the AMR Corp. unit, Chief Executive Officer Doug Parker said.

American Parent AMR Falls Most Since 2003 on Bankruptcy Concern

American Airlines parent AMR Corp. tumbled the most since 2003, triggering automatic trading halts, on growing concern the third-largest U.S. carrier may be forced to seek bankruptcy protection.

AMR Rebounds After Rout as Talks Resume With Pilots at American

American Airlines parent AMR Corp. gained 21 percent, rebounding after bankruptcy concerns triggered its worst decline since 2003, and the carrier resumed contract negotiations with pilots.

AMR Starts Merger Review Process, Sends Papers to US Airways

American Airlines parent AMR Corp. began a process to review merger offers yesterday by sending potential suitor US Airways Group Inc. an agreement to allow an exchange of confidential financial information.

AMR Seeks More Overseas Flights as US Airways Circles

AMR Corp.’s American Airlines would shift more seating capacity to overseas flights from U.S. routes to narrow a revenue gap with rivals under a plan to exit bankruptcy as a stand-alone carrier.

Stocks, Euro Fall as Concern Over Debt Crisis Outweighs U.S. Economic Data

Stocks and commodities sank, sending the Standard & Poor’s 500 Index and oil to more than one-year lows, and the euro slid as concern about Europe’s debt crisis overshadowed higher-than-estimated U.S. economic data. Treasury bonds rallied as the Federal Reserve bought longer-term debt.

U.S. Stocks Tumble to 2011 Low as Debt Concern Offsets Economy

U.S. stocks tumbled, sending the Standard & Poor’s 500 Index to a one-year low, as concern over Greece’s debt crisis and Bank of America Corp.’s slump outweighed a rebound in manufacturing and construction spending.

US Airways Said to Brief AMR Creditors on Takeover Plan

US Airways Group Inc., seeking support for a possible American Airlines merger, is discussing a takeover plan with some creditors of the bankrupt carrier and their advisers, people with knowledge of the talks said.

"Our hub locations and our international alliance and joint-venture partners place us in an enviable position relative to the highest concentrations of high-value customers."

- Andy Backover on Jun 14, 2012

New York

Fort Worth

US Airways

American Airlines

Tesla’s Straubel Keeps Motors Rolling as Stock Surges 57%

U.S. Stocks Advance on Increased Optimism Over Economy

S&P 500 Rises on U.S. Optimism While Metals Fall on China

Verizon Wireless Agrees to Pay Co-Owners $7 Billion Dividend

CIA Spy Caught in $1 Million Recruitment Sting, Russia Says