AIRLINES

American Agrees to Buy Texas Commuter Airline: American Airlines and one of its sister companies have agreed to buy a Texas-based commuter airline for $40 million, settling a battle over the small carrier’s right to operate under the American Eagle logo. Metroflight Inc. serves 24 cities in Texas, Louisiana, Arkansas and Oklahoma, chiefly feeding passengers to American’s Dallas-Ft. Worth hub. It will be purchased from Metro Airlines Inc., a firm that has operated under U.S. bankruptcy court protection since April, 1991. American’s sister company, Simmons Airline Inc., will pay $10 million for most of Metroflight’s assets and assume $29 million of Metroflight’s debt, according to documents filed in federal bankruptcy court. American has agreed to pay Metro’s creditors $4 million to settle a 1991 lawsuit over American’s attempt to get out of a contract with Metro, the documents said.