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American Airlines' Parent Faces Tough Choices after Canadian Ruling.
Knight Ridder/Tribune Business News, November, 1999 by Reed, Dan
Knight Ridder/Tribune Business News
Nov. 10 -- FORT WORTH, Texas -- The problem with daring business moves is that they can leave the risk-taker exposed.
That's where AMR Corp., parent of American Airlines, finds itself in the wake of Friday's decision by a Canadian court that the bid it backed to acquire Air Canada and merge it with Canadian Airlines International was illegal.
Onex Corp. of Toronto fronted the bid, with financial assistance from AMR. The court said that the bid would violate a Canadian law that limits foreign ownership of Air Canada to a 10 percent stake.
AMR and Onex had hoped to consolidate the carriers and to align the merged company with American and its partners in the Oneworld global airline alliance. That...
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