Join The Discussion

 

Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

read more >

Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

read more >

Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

read more >

Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

read more >

Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

read more >

Holder: Airlines must make concessions to merge

The leaders of American Airlines and US Airways announcing merger plans in February. 

DAVID KOENIG, Associated Press
PETE YOST, Associated Press


WASHINGTON (AP) — Attorney General Eric Holder says American Airlines and US Airways must make broad concessions if they want to settle a lawsuit blocking their proposed merger.

Holder indicated Monday that the government's concerns about the merger extend beyond the control that American and US Airways would have at Washington's busy Reagan National Airport.

The attorney general's comments show that the parties could try to reach a deal and avoid a Nov. 25 trial on the lawsuit, but also could indicate that the government's demands may be too steep for the airlines.

The government sued to block the merger, which would create the world's biggest airline, on grounds that it would restrict competition and drive up prices for consumers on hundreds of routes around the country.

At a press conference in Washington, Holder said his department has focused on forcing American and US Airways to make concessions at key busy airports throughout the United States.

"We will not agree to something that does not fundamentally resolve the concerns that were expressed in the (lawsuit) and do not substantially bring relief to consumers," Holder said. If there is no settlement, he said the department was fully ready to take the case to trial.

Last week, American and US Airways Group Inc. began working on a settlement proposal that would include giving up valuable takeoff and landing rights at Reagan National, two people close to the situation told The Associated Press. It was not clear how many takeoff and landing slots the two airlines were willing to give up, and they did not want to make broader concessions.

The combined airline would keep the American name and leapfrog United Airlines and Delta Air Lines in size. It would control about 69 percent of all flights at Reagan National.

American Airlines offered a terse response to Holder's comments.

"Any discussions about settlement to resolve this litigation, whether internal, with DOJ directly or through the mediator would be private and we are not going to comment on them in any way," said Mike Trevino, a spokesman for the airline. US Airways said it would not comment on the discussions either.

The airlines and the government have agreed to use a court-appointed mediator in settlement talks. If those discussions fail, a trial is scheduled to begin later this month and run through mid-December in U.S. district court in Washington.

Vicki Bryan, an analyst at the bond-research firm Gimme Credit, said that far-reaching demands by the Justice Department were "disturbing but not surprising." She said the government would push hard for a settlement "to save face" but would find it hard to convince a judge to block the merger. She said holding up the merger would hurt the airline industry by leaving American to carry on "as a below-average, poorly run carrier with a long history of safety concerns."

American's parent, AMR Corp., has been operating under bankruptcy protection since November 2011. As part of the bankruptcy case, it agreed to pay a record $24.9 million in fines to settle $162 million in claims lodged by the Federal Aviation Administration for a variety of maintenance and safety issues.

___

Koenig reported from Dallas.

< back

Email   email
hide
Ebola
How worried are you about Ebola spreading?