American open to merger possibilities
By Matt Andrejczak, CBS.MarketWatch.com
Last Update: 2:46 PM ET Oct 26, 2000 NewsWatch
WASHINGTON (CBS.MW) -- In a sign that future consolidation among major airline carriers remains a possibility, the parent company of American Airlines said Thursday it has periodically held merger talks over the past several months with other airline companies.
AMR Corp. (AMR: news, msgs) said those discussions were sparked after UAL Corp. (UAL: news, msgs) and US Airways Group (U: news, msgs) announced they would join forces in May, according to documents filed with the Securities and Exchange Commission.
"The company is considering its strategic response to the possibility of industry consolidation, and from time to time is engaged in discussions with other carriers regarding significant business combinations and acquisition of assets," said AMR.
Recent industry speculation has linked American Airlines, the nation's No.2 carrier, with Northwest (NWAC: news, msgs) or British Airways. But any future blockbuster deals among airline carriers are not likely to take place until regulators approve the deal between UAL and US Airways.
Either this guy has the scoop of the century, or is poorly misinformed. My guess is the latter...