US Airways Group Inc. management confirmed Wednesday that the airline is studying a potential merger with bankrupt American Airlines.
Chief executive officer Doug Parker said during a conference call with analysts and investors that US Airways has hired the Millstein & Co. restructuring firm, Barclays P.L.C. banking and financial services, and the Latham & Watkins L.L.P. law firm to analyze a merger attempt.
Parker made the announcement on the call to discuss fourth-quarter and 2011 earnings results. US Airways and Delta Air Lines Wednesday posted fourth-quarter profits that topped analysts' expectations. "I am aware that there is a good bit of speculation about our company as it relates to AMR's bankruptcy," said Parker, referring to American's parent AMR Corp. which filed for Chapter 11 bankruptcy protection on Nov. 29, after posting annual losses since 2008.