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NYT NEWS ALERT: US Airways Said to Be in Talks to Buy United
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NYT NEWS ALERT: US Airways Said to Be in Talks to Buy United
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NY Times story with a few more details: http://dealbook.blogs.nytimes.com/2010/ ... -talks/?hp
Quote:
United and US Airways are deep in their merger discussions, though a transaction is not expected to be announced for at least several weeks, these people said, cautioning that talks may still collapse. One potential hurdle could be union opposition.
so one uber painful seniority list merger wasn't enough...
Hmmmm I wonder what their merger slogan will be???
"Two bad airlines, one huge cluster F#$K!"
"We hate to fly and it shows."
"Something really bad in the air"
"Its time to treat you even worse then we do now."
"One Mission, and its not yours."
"You'll still not like US."
"We know we're not better, We're US/UA."
"Not even meeting your lowest expecations."
"Its not the only way to fly, and thankfully so."
"Nobody up here likes you."
"US/UA, There's far better ways to fly."
"The worst care in the air."
"Reaching for new lows."
"We don't know why you fly US."
"US/UA is not going your way."
"We're not an entirely different kind of animal, but we'll treat you like one."
"US/UA, Fly cheap, and we don't mean fares."
"A symbol of trash."
"Bags will never fly free."
"You ain't seen nothing yet" Even though this was WN's slogan unchanged by me just imagine what it means for US/UA...good God.
"Smooth as sandpaper."
"Nationwide, Worldwide, don't depend on US."
"The most uncomfortable way to fly."
"Today's US/UA, find out how bad we really are."
"We don't want to be your airline."
"Come fly the unfriendly skies."
"Don't fly with US."
My first reaction was this was a story left over from last Thursday... :wink:
that would be one really sick joke, worse than the In-n-Out thingy...Quote:
Originally Posted by moose135
This is from ATW today:
Quote:
Thursday April 8, 2010
United Airlines parent UAL Corp. and US Airways are in advanced discussions about a merger, The New York Times reported on its website Wednesday. It cited "people briefed on the matter." Spokespersons for both airlines declined to comment to this website, citing company policy. The two companies tried to merge before: In May 2000 UA agreed to acquire US in a transaction that valued US at $4.3 billion. However, the Dept. of Justice refused to okay the merger and United backed away from the deal in the summer of 2001. Both carriers entered Chapter 11 following 9/11 and US eventually was acquired by America West in 2005, with the US Airways name surviving. UA Chairman and CEO Glenn Tilton has called for industry consolidation, as has US Chairman and CEO Doug Parker. US made an ultimately unsuccessful bid for Delta Air Lines in November 2006.
I know these are DL related but they still work for UA/US:Quote:
Originally Posted by T-Bird76
"US/UA is not ready when you are."
"Change is a living nightmare."
"US/UA gets you there in despair"
"You'll love the way we fly...NOT!"
"Delta will be everyone's choice for flying if we merge."
"Good goes away."
"Worst get's much worse." (Funny because "Best Gets Better" was the Delta/Western Merger Slogan)
"Fly _____ (a different airline)"
"One crappy airline" (DL/NW merger slogan)
"Together in hell" (another DL/NW merger slogan)
or how about... "and you thought Air France's planes were dirty."
I like "Bags will never fly free"
If this happened, would UA/US be larger than DL (post merger)?
This has been in the works since October. Doug and Scott have been in Chicago talking to Tilton with lawyers since October early November. I think I even mentined this back than. One of my sources at ORD had seen them transiting ORD weekly back than.
First of all, it would be a merger. US could not acquire glassware let along United. Secondly, it's much more likely the eventual combination will be with CO, not US. US has too many problems, and will be split up and divested.
CNBC Reporting as of 10:50AM Thursday that merger talks between United and US Airways have been broken off.
US Airways, United break off deal talks
But US Airways says ‘consolidation makes sense’ in fragmented industry
The Associated Press
updated 12:31 p.m. ET, Thurs., April 22, 2010
Atlanta - US Airways Group Inc. said Thursday it has ended talks with United Airlines about a combination, preferring to remain a standalone carrier for now and wait to see if United and Continental Airlines reach a deal of their own.
United did not directly address US Airways' comments in a statement e-mailed to The Associated Press, saying only that it continues to believe the industry would benefit from consolidation.
US Airways' announcement came after word that United and Continental had exchanged financial information as a prelude to a possible combination between those two carriers.
Industry experts have suggested that a United-Continental combination makes more sense in part because of the two carriers already cooperate with each other.
If United and Continental were to complete a deal, it would create the world's largest carrier, leapfrogging over Delta Air Lines.
People briefed on those talks have said bankers for United and Continental are discussing how to value the companies in a stock-for-stock swap. That job might be easier because the airlines considered combining in 2008, until Continental broke off talks.
But the industry landscape has changed dramatically since then.
Fuel prices are on the rise again, and while demand for air travel has improved from the recession lows, major carriers are still struggling to turn profits. Several major carriers, including Continental, reported first-quarter losses this week.
Continental CEO Jeff Smisek declined to comment on the US Airways decision and gave only the barest description of his company's actions on consolidation.
"As you would expect of a responsible management team, we are examining Continental's options and will take whatever action we believe to be in the best interests of our co-workers, stockholders, customers and the communities we serve," he said.
In a memo to employees issued at the same time as Thursday's announcement, US Airways CEO Doug Parker said that the carrier continues to believe in the merits of consolidation, but for the foreseeable future it intends to remain a standalone carrier.
"As I have said many times, it is not necessary for us to be direct participants in a merger because the entire industry benefits when consolidation occurs," Parker said.
US Airways told United of its decision to end talks late Wednesday night, said a person who was briefed on the discussions. The person was not authorized to speak publicly, and spoke on condition of anonymity.
"US Airways was ready to sign a deal with United when they found out United was more interested in signing a deal with Continental," the person said.
No stranger to merger game
US Airways is no stranger to the merger game. It previously combined with America West and, while Delta was restructuring in bankruptcy, it made a hostile bid to acquire Delta. That bid ultimately failed, and Delta later acquired Northwest Airlines.
One holdup to a United-Continental deal could be a provision in the Continental pilots' union contract that bars their company from sharing revenue in a joint venture with another U.S. carrier.
The clause is the subject of current negotiations on a new contract. The leader of the pilots' union at United, meanwhile, has signaled more support for a tie-up with Continental than with US Airways.
Among U.S. carriers ranked by passenger traffic, United is third, Continental fourth and US Airways sixth, just behind Southwest Airlines.
Continental, which is based in Houston, rejected a combination with Chicago-based United in 2008 and instead joined United's Star Alliance in which they sell seats on each other's flights and will work closely together on international service.
If they combine, United and Continental would vault over Delta, based in Atlanta, to become the world's largest airline by traffic. A combined United and US Airways, which is based in Tempe, Ariz., would have been smaller than Delta, which gained the No. 1 spot by buying Northwest in 2008.
US Airways shares fell 31 cents, or 4.6 percent, to $6.45 in midday trading. Shares of UAL, United's parent, lost 22 cents at $21.21.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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