In a letter sent to employees on Wednesday, US Airways chief executive Doug Parker said his carrier is no hurry to merge with American Airlines.
American recently agreed with its unsecured creditors committee to extend its exclusivity period in bankruptcy to allow it more time to file a restructuring plan with the court. As a result, it is likely that a formal bid from US Airways to merge with American will not be heard by the court until possibly early next year."That delay is fine by us – there is certainly no urgency for us to merge, so long as we are a given a fair chance to present our superior alternative in time to merge with AMR upon their emergence from bankruptcy," the Charlotte Observer reports that he wrote in the letter.Parker also pointed out that Tempe, Ariz.-based carrier is scheduled to report second-quarter earnings this month that he expects will be strong because of lower fuel prices and high demand."Given where the American bankruptcy case is at this point, it seems highly unlikely they will emerge before year-end, so that means the speculation and attention around this potential merger will continue for at least several more months and we need to be aware of that," Parker wrote in his letter.Have more to add? News tip? Tell us
