Settlement Talks
I have a friend who bought American Airlines stock at 50 cents per share. That friend asked me what on earth was going on that the stock rose to just over $10 per share.
These are strange days when an airline stock is actually worth quite a bit while in bankruptcy, on hold with a merger because of a lawsuit. Strange days indeed.
The answer is that there are settlement discussions going on with the Florida Attorney General and with the Department of Justice.
The talks with the Florida AG are to build momentum and whether or not a settlement is reached there is really immaterial.
The talks with the DoJ are serious and Attorney General Holder has come out with bluster stating that the airlines would have to sell assets to get a settlement. The airlines wisely declined to make a comment.
In the world of lawsuits, he who is quiet is usually the one who is winning.
American Airlines and US Airways are very quiet on this.
because the doj KNOWS they have a weak case. this is such a crock of crap on so many points. did you know that the justice dept was privy to millions of documents for nearly 24 months? that this had been in the planning stages for a long time? the abrupt lawsuit no doubt, came from the DL lobby group. their whole goal is to ‘get back’ all they sold US in the LGA slot swap. they are dirty and they fight dirty. but guess what? the ‘department’ never ever thought we would fight back. guess what guys, GAME ON!!