Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
The Allied Pilots Association, the union representing pilots flying for AMR's (UNKNOWN: AAMRQ.DL ) 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 (NYSE: LCC ) . 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.