US Airways Group Inc. is stepping up its efforts to merge with parent AMR Corp. with a formal offer, and details of that proposal have emerged in multiple national news outlets.
US Airways has been pushing for a combination of the two airlines as AMR navigates Chapter 11 bankruptcy with the intention of exiting as a stand-alone carrier, the Phoenix Business Journal reports.
US Airways proposes an all-stock deal that would give its shareholders 30 percent of the combined airline and AMR's creditors 70 percent, according to The Wall Street Journal's account. That plan suggests US Airways Chief Executive Doug Parker to run the merged company.
The combined airline could be valued at around $8.5 billion, Reuters reports.