As a step to a possible merger, AMR Corporation, the parent company of American Airlines, and US Airways Group, Inc. announced that they have entered into a non-disclosure agreement ("NDA"). The companies report they 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.
In a statement the companies said 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.
"Furthermore, 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 two companies said.
The companies noted that there can be no assurance that a transaction will result from these discussions.