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American-US Airways merger: Feds investigate possible antitrust issues
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| Contributor | Brandonius Maximus |
| Last Edited | Brandonius Maximus Jun 28, 2013 11:02am |
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| Category | News |
| Author | Reuters |
| News Date | Friday, June 28, 2013 05:00:00 PM UTC0:0 |
| Description | The U.S. Justice Department is taking depositions as part of a probe into a planned merger of American Airlines and US Airways that would create the world's largest airline, three sources close to the discussions told Reuters.
The sticking point in talks between the Justice Department and the companies is whether the airlines will agree to sell slots -- take-off and landing rights -- to reduce their dominance at Reagan National Airport outside Washington, D.C., according to one source.
The three sources spoke privately to protect business relationships.
US Airways announced on February 14 that it planned to merge with American, which is emerging from bankruptcy, to create an $11 billion airline. The deal requires the approval of the Justice and Transportation Departments. The companies hope to wrap up the merger by the end of September. |
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