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US Airways Now Seeks Takeover Approval From AMR Creditors
With last week’s union deals in hand, US Airways is now “focused’ on convincing AMR Corp.’s largest creditors that its takeover plan is superior to that currently being presented in a bankruptcy court by the Fort Worth-based operator.
The argument, according to US Airways’ top executives, is that a combined carrier would at the very least provide $1.2 billion in annual synergies, more than enough to offset the cost disparities claimed by AMR.