The head of American Airlines says that seven months into a bankruptcy reorganization it's time to consider options including a merger with another airline.
American and AMR Corp. CEO Thomas Horton said Tuesday that options including a merger "could make the new American even stronger."
In the letter, Horton said:
"We will also be reaching out to interested parties to inform them of how we intend to proceed. While we do not plan to comment on these conversations publicly, be assured we are committed to building the strongest company creating the most value for our stakeholders and the best outcome for our people." Read the entire letter here.
US Airways has been pushing hard for a merger with American almost since the day that American and AMR filed for bankruptcy protection in November. Horton has taken a slower approach, saying he preferred to wait until after AMR emerges from bankruptcy protection before considering a merger.
But Horton said that due to improvements in revenue and progress on cost-cutting labor deals, it now makes sense to consider options such as a merger. He said AMR and its creditors will reach out to "interested parties."