FORT WORTH, Texas and
TEMPE, Ariz., Sept. 23, 2013 /PRNewswire/ -- AMR Corporation
(OTCQB: AAMRQ), the parent company of American Airlines, Inc., and
US Airways Group, Inc. (NYSE: LCC) have each agreed to extend the
outside date at which either party may terminate the previously
announced Agreement and Plan of Merger (the Merger Agreement), in
light of the trial schedule surrounding litigation with U.S.
Department of Justice.
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In a joint statement, Tom Horton,
chairman, president and CEO of AMR, and Doug Parker, chairman and CEO of US Airways,
said, "The Boards and management teams of AMR and US Airways remain
committed to completing this combination to create the new
American, and the extension of this outside date is a reflection of
this commitment. Our focus is on mounting a vigorous defense and
winning our court case so the new American can enhance competition,
provide better service to our customers and create more
opportunities for our employees."
The amended Merger Agreement extends the date on which either
AMR or US Airways may terminate the Merger Agreement from
December 17, 2013 to the later of
January 18, 2014, or, if the Court
enters an order on or before January 17,
2014 in favor of American and US Airways, on the 15th day
following the entry of such order. In the event of an
unfavorable ruling by the Court, AMR or US Airways may terminate
the merger agreement five days after the Court enters a final, but
appealable, order permanently enjoining the merger.
Further details about the amended Merger Agreement will be
contained in Forms 8-K to be filed by each company today with the
Securities and Exchange Commission.
About American Airlines
American Airlines focuses on
providing an exceptional travel experience across the globe,
serving more than 260 airports in more than 50 countries and
territories. American's fleet of nearly 900 aircraft fly more than
3,500 daily flights worldwide from hubs in Chicago, Dallas/Fort
Worth, Los Angeles,
Miami and New York. American flies to nearly 100
international locations including important markets such as
London, Madrid, Sao
Paulo and Tokyo. With more
than 500 new planes scheduled to join the fleet, including
continued deliveries of the Boeing 737 family of aircraft and new
additions such as the Boeing 777-300ER and the Airbus A320 family
of aircraft, American is building toward the youngest and most
modern fleet among major U.S. carriers. American's website,
AA.com®, provides customers with easy access to check
and book fares, and personalized news, information and travel
offers. American's AAdvantage® program, voted Airline
Program of the Year at the 2013 Freddie Awards, lets members redeem
miles for flights to almost 950 destinations worldwide, as well as
flight upgrades, vacation packages, car rentals, hotel stays and
other retail products. The airline also offers nearly 40 Admirals
Club® locations worldwide providing comfort,
convenience, and an environment with a full range of services
making it easy for customers to stay productive without
interruption. American is a founding member of the
oneworld® alliance, which brings together some of
the best and biggest airlines in the world, including global brands
like British Airways, Cathay Pacific, Iberia Airlines, Japan
Airlines, LAN and Qantas. Together, its members serve more than 840
destinations served by some 9,000 daily flights to nearly 160
countries and territories. Connect with American on Twitter
@AmericanAir or Facebook.com/AmericanAirlines. American Airlines,
Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR
Corporation. AMR Corporation common stock trades under the symbol
"AAMRQ" on the OTCQB marketplace, operated by OTC Markets
Group.
About US Airways
US Airways, along with US Airways
Shuttle and US Airways Express, operates more than 3,100 flights
per day and serves 198 communities in the U.S., Canada, Mexico, Europe, the Middle
East, the Caribbean,
Central and South America. The
airline employs more than 32,000 aviation professionals worldwide,
operates the world's largest fleet of Airbus aircraft and is a
member of the Star Alliance network, which offers its customers
more than 21,900 daily flights to 1,329 airports in 194 countries.
Together with its US Airways Express partners, the airline serves
approximately 80 million passengers each year and operates hubs in
Charlotte, N.C., Philadelphia, Phoenix and Washington, D.C. Aviation Week and Overhaul
& Maintenance magazine presented US Airways with the 2012
Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award
for demonstrating outstanding achievement and innovation in the
area of technical operations. Military Times Edge magazine named US
Airways as a Best for Vets employer for the past three years. US
Airways was, for the third year in a row, the only airline included
as one of the 50 best companies to work for in the U.S. by LATINA
Style magazine's 50 Report. The airline also earned a 100 percent
rating on the Human Rights Campaign Corporate Equality index for
six consecutive years. The Corporate Equality index is a leading
indicator of companies' attitudes and policies toward lesbian, gay,
bisexual and transgender employees and customers. For more company
information visit usairways.com, follow on Twitter @USAirways or at
Facebook.com/USAirways.
Additional Information and Where To Find It
This
communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. AMR Corporation ("AMR") has filed with
the Securities and Exchange Commission ("SEC") a registration
statement on Form S-4, which includes a proxy statement of US
Airways Group, Inc. ("US Airways") that also constitutes a
prospectus of AMR, and US Airways has filed with the SEC its
definitive proxy statement on Schedule 14A. AMR and US
Airways have mailed the proxy statement/prospectus to US Airways
security holders. Investors and security holders of US
Airways are urged to read the proxy statement/prospectus and other
relevant documents filed with the SEC carefully and in their
entirety because they contain important information about the
proposed transaction. Investors and security holders may
obtain free copies of the proxy statement/prospectus and other
documents containing important information about AMR and US Airways
through the website maintained by the SEC at
http://www.sec.gov. Copies of the documents filed with the
SEC by US Airways can be obtained free of charge on US Airways'
website at www.usairways.com or by directing a written request to
US Airways Group, Inc., 111 West Rio Salado Parkway, Tempe, Arizona 85281, Attention: Vice
President, Legal Affairs. Copies of the documents filed with
the SEC by AMR can be obtained free of charge on AMR's website at
www.aa.com or by directing a written request to AMR Corporation,
P.O. Box 619616, MD 5675, Dallas/Fort
Worth International Airport, Texas 75261-9616, Attention: Investor
Relations or by emailing investor.relations@aa.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements may be identified by
words such as "may," "will," "expect," "intend," "anticipate,"
"believe," "estimate," "plan," "project," "could," "should,"
"would," "continue," "seek," "target," "guidance," "outlook,"
"forecast" and other similar words. These forward-looking
statements are based on AMR's and US Airways' current objectives,
beliefs and expectations, and they are subject to significant risks
and uncertainties that may cause actual results and financial
position and timing of certain events to differ materially from the
information in the forward-looking statements. The following
factors, among others, could cause actual results and financial
position and timing of certain events to differ materially from
those described in the forward-looking statements: the lawsuit
filed by the Antitrust Division of the U.S. Department of Justice
and certain states seeking to enjoin the planned merger of AMR and
US Airways on antitrust grounds and the intention of AMR and US
Airways to contest such lawsuit vigorously; the challenges and
costs of the proposed transaction, including integrating operations
and achieving anticipated synergies; the price of, market for and
potential market price volatility of common stock of the ultimate
parent entity following the closing of the proposed transaction;
significant liquidity requirements and substantial levels of
indebtedness of the combined company following the closing;
potential limitations on the use of certain tax attributes
following the closing; failure of the proposed transaction to be
completed; and other economic, business, competitive, and/or
regulatory factors affecting the business of the combined company
after the closing and the businesses of US Airways and AMR
generally, including those set forth in the filings of US Airways
and AMR with the SEC, especially in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of their respective annual reports
on Form 10-K and quarterly reports on Form 10-Q, their current
reports on Form 8-K and other SEC filings, including the
registration statement and the proxy statement/prospectus related
to the proposed transaction. Any forward-looking statements speak
only as of the date hereof or as of the dates indicated in the
statements. Neither AMR nor US Airways assumes any obligation to
publicly update or supplement any forward-looking statement to
reflect actual results, changes in assumptions or changes in other
factors affecting these forward-looking statements except as
required by law.
SOURCE AMR Corporation; US Airways Group, Inc.