Pilots Union Ratifies Memorandum for Airline Merger
The Allied Pilots Association, the union representing pilots flying for AMR's American Airlines, said in a statement that its board approved a memorandum of understanding in anticipation of a merger between American and US Airways Group . The MOU will be submitted for consideration to the management teams of both firms, which are exploring ways to bring AMR out of bankruptcy and eventually merge it with US Airways.
If approved by the two airlines, the MOU would serve as a framework document for labor relations between the newly combined entity and its key employees, the APA said.
In its statement, the APA didn't provide the terms of the MOU, citing a non-disclosure agreement and SEC regulations.
The article Pilots Union Ratifies Memorandum for Airline Merger originally appeared on Fool.com.Eric Volkman and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.