US Airways and American Airlines parent AMR entered into a nondisclosure agreement "under which both companies have agreed to exchange certain confidential information and to work in good faith to evaluate a potential combination," according to a memo Friday from US Airways CEO Doug Parker.
Parker for months has chased a transaction with bankrupt AMR.
"This agreement will likely remain in place until either a deal has been signed or we have determined this process will not result in a transaction," according to Parker’s memo to employees. "As a result, we will not be able to be as open and candid about the discussions with American as we usually are about issues that are important to all of us."
Alaska Airlines, Frontier Airlines, JetBlue Airways and Virgin America also were expected to receive nondisclosure agreements from AMR, according to analysts.
Source: Business Travel News