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This week, AMR reported a narrower second-quarter loss than a year ago and would have earned $95 million excluding restructuring costs
-- its first operating profit for the quarter since 2007. US Airways spokesman Andrew J. Christie Jr. said the company was pleased that the meeting took place. "No substantial progress was made," he said, "but we hope this is the start of a meaningful, fair and transparent process that will give us the ability to demonstrate further why combining American Airlines and US Airways is in the best interests of all of our stakeholders, many of whom have already voiced their support for this merger." US Airways is the pursuer now, but at one point it was Horton checking out Parker's company. Horton said in a letter to employees last week that AMR has looked at many possible mergers in the past, "including, of course, an acquisition of US Airways." On Bloomberg TV Thursday, Horton said he approached Parker about a year ago. AMR sat out a round of consolidation in the past decade that saw Delta buy Northwest Airlines and United combine with Continental. Those deals left American a distant third in passenger traffic. US Airways is fifth, just behind Southwest.
Horton and Parker have known each other since the mid-1980s when both men worked at American. In a speech at the National Press Club on Wednesday, Parker said there was nothing personal about his pursuit of Horton's company. "Tom and I are friends, have been friends for a long time," Parker said. "Hopefully when this is over we will remain friends."
[Associated
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