US Airways (LCC) Ramps Higher; Now One-Step Closer to Possible Deal with AMR Corp. (AAMRQ)
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US Airways Group, Inc. (NYSE: LCC) shares are much higher in early trading Friday following news that it and AMR Corp. (OTCBB: AAMRQ) entered into non-disclosure agreements tied to a possible transaction.
The news is great for US Airways, though investors should note that US Air and AMR cautioned that there would be no guarantee of a transaction being completed.
Word that US Air was aiming to acquire AMR has circulated since AMR entered bankruptcy late in 2011. The two haven't announced anything formal since, but CEOs have hinted that more consolidation in the industry was warranted.
For more US Air news, click here. You can scroll down and see a timeline of how chatter for a US Air/AMR deal has surfaced.
Shares of US Air are up nearly 6 percent in early trading.
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The news is great for US Airways, though investors should note that US Air and AMR cautioned that there would be no guarantee of a transaction being completed.
Word that US Air was aiming to acquire AMR has circulated since AMR entered bankruptcy late in 2011. The two haven't announced anything formal since, but CEOs have hinted that more consolidation in the industry was warranted.
For more US Air news, click here. You can scroll down and see a timeline of how chatter for a US Air/AMR deal has surfaced.
Shares of US Air are up nearly 6 percent in early trading.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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