P.M. BRIEFING : American Seeks Eastern Routes
AMR Corp.’s American Airlines is holding talks with Texas Air Corp.’s Eastern Airlines unit about buying Eastern’s Latin American routes, an AMR spokesman said today.
“We have been in discussions on and off with Eastern for the last several months. Those talks were in abeyance but are now continuing,” the spokesman said. “We have no agreement.”
Eastern has been operating under bankruptcy protection since March, when its machinists went on strike. It is gradually rebuilding its operations but says it will emerge from bankruptcy as a smaller carrier.
An industry official said the Latin American routes are worth between $300 million and $400 million and would fit well with AMR’s Miami operations.
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