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American Airlines parent AMR Corp. plans to formally sound out potential partners about a merger or other investment deal in coming weeks, the company said, setting the stage for a showdown over the airline’s path out of bankruptcy.
Any merger proposals would be weighed against an independent restructuring plan being developed by AMR, with the carrier’s bondholders, unions and other parties jockeying over which deal would give them the best results, said people familiar with the matter.
American, the No. 3 U.S. airline by traffic, intends to send nondisclosure agreements to other airlines as soon as this month.