Report: US Airways gets boost in merger bid for American

There's more chatter today regarding the prospects of a merger between US Airways and American Airlines, whose parent company AMR is restructuring under Chapter 11 bankruptcy protection.

The latest comes from Bloomberg News, which cites unnamed "people familiar with the matter" in reporting that a key group of AMR bondholders is backing a merger with US Airways. Bloomberg says the group, which holds about $1.5 billion in unsecured debt, wants a deal by Feb. 15. That date, according to Bloomberg's sources, is when the group's non-disclosure agreement with both airlines expires.

In its report, Bloomberg writes:

"The bondholders coalesced behind the idea after reviewing confidential data from AMR's American Airlines and US Airways, said the people, who asked not to be identified because the talks are private. The promise of more cost savings and other financial benefits from a combined carrier than a stand-alone American helped sway the group, one of the people said."

Bloomberg notes the ad hoc group of bondholders does not hold a seat on AMR's unsecured creditors committee, but the news agency says that the group's merger preference "gives US Airways an ally as it makes the case for a tie-up that would create the world's largest airline."

Echoing a Friday report from Reuters, Bloomberg says the ownership stake and makeup of the merged airline's management teams remain sticking points in the current merger talks between US Airways and American

Stay tuned …