American and US Airways up shares of merged company

Washington DC
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The new American Airlines will have 1.95 billion in total shares following its merger with US Airways, as the carriers up the planned total.

The carriers are upping the number of shares by 100 million under an amended merger agreement, according to a stock exchange filing on 16 May. The new total will be split 1.75 billion in common and 200 million in preferred stock.

American and US Airways did not disclose a reason for the increased share numbers.

American creditors will receive 72% and US Airways shareholders 28% of the resulting airline under the terms of the all-stock $11 billion deal.

The airlines also agreed to modified employee compensation and benefit plans under the amended merger agreement.

The US Bankruptcy Court for the Southern District of New York approved the changes on 15 May.