AMR Corporation and US Airways enter non-disclosure agreement re potential combination

AMR Corporation, the parent company of American Airlines, and US Airways Group announced (31-Aug-2012) they have entered into a non-disclosure agreement under which the companies have agreed to exchange certain confidential information and, in close collaboration with AMR's Unsecured Creditors Committee, to "work in good faith to evaluate a potential combination". The companies stated they "do not expect to provide any further announcements regarding the status of any such discussions unless and until the parties have entered into a transaction or discussions between the parties have been terminated". They added: "AMR and US Airways have each agreed while they are evaluating a potential combination that they and their representatives will not engage in discussions with other parties concerning a potential combination of AMR and US Airways. The companies noted that there can be no assurance that a transaction will result from these discussions". In a letter to employees, US Airways CEO Doug Parker said, "We are pleased to be working directly with American to study a potential merger and we consider this very good news. It does not mean we are merging - it simply means we have agreed to work together to discuss and analyze a potential merger." [more - original PR - Press Release] [more - original PR - regulatory filing]