AMR chief executive Tom Horton told creditors that they should get most of the stock in the new American Airlines if it merges with US Airways.
According to the Associated Press, Horton made the comments during a meeting with the unsecured creditors committee. Here's what AP's talented David Koenig reported on Wednesday evening:
"AMR CEO Thomas Horton said Wednesday that AMR creditors should get considerably more stock in a combined airline than US Airways has so far proposed, said one of the people, who spoke on condition of anonymity because the companies have signed a confidentiality agreement...
"They said Horton also said that costs of a combined airline are hard to gauge because of labor uncertainty at US Airways, and that such uncertainty should be reason to give AMR creditors more equity as compensation for the risks related to combining the two airlines' workforces."
US Airways executives presented its plan for a merged airline to the unsecured creditors on Tuesday while American executives discussed their idea for a stand-alone carrier with creditors on Wednesday.