AMR chief reportedly has updated creditors on merger talks

AMR CEO Tom Horton updated the company's official creditors committee about merger discussions with US Airways, say sources familiar with the discussions. During a meeting with creditors, Horton reportedly said that the creditors should get above 70% of the shares of a merged American Airlines/US Airways. The sources also said Horton sought assurance from US Airways that merging the two carriers would not result in increased labor costs.

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