Pilots for American Airlines on Friday voted to approve a new contract with the company, marking another step in the company's quest to recover from bankruptcy. AMR -- the parent of American Airlines -- has received a merger proposal from US Airways. AMR is considering whether such a merger would "create value for our owners and a positive outcome for our people and our customers," CEO Tom Horton said in a note to employees. "We expect to have a conclusion on this soon."

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