P.M. BRIEFING : U.S. OKs Air Route Transfers
From Times Wire Services
WASHINGTON —
The Department of Transportation today tentatively approved the sale of overseas routes to United Airlines and American Airlines, clearing a hurdle for the nation’s two biggest carriers to expand overseas.
UAL Corp.’s United Airlines, the No. 1 U.S. carrier, arranged a $400-million deal last year to buy a number of London routes and other assets from Pan Am Corp., the ailing carrier that filed for Chapter 11 bankruptcy today.
The department also said it tentatively approved Trans World Airlines Inc.’s sale of Chicago-London routes to AMR Corp.’s American Airlines. TWA has also been seeking a merger with Pan Am.
