US Airways, American drawing up proposed settlement-report
WASHINGTON Oct 30 (Reuters) - US Airways and American Airlines will offer to give up some take-off and landing slots at Reagan National Airport near Washington, D.C. as part of a deal to get the U.S. Justice Department to allow them to merge, Dow Jones reported on Wednesday, citing people familiar with the process.
In a complaint aimed at stopping the proposed transaction, the Justice Department focused on the airport, which is used by many members of Congress to travel to their home districts.
The two carriers control a combined 69 percent of takeoff and landing slots at Reagan National. It also listed more than 1,000 routes between two cities where the two airlines dominate the market.
Dow Jones reported that one of the two people familiar with the proposed settlement said that the airlines still expected to go to trial.
The airlines and the Justice Department have said that they are open to a settlement agreement. Trial in the case is set to begin Nov. 25.
The case at the U.S. District Court for the District of Columbia is No. 1:13-cv-1236.
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