American Links Wings With Canadian
AMR, parent of American Airlines, agreed on Dec. 29 to invest nearly $200 million in struggling Canadian Airlines International. In exchange for its investment, AMR will receive a 25% voting stake and a $2 billion, 20-year contract to provide Canadian with a variety of administrative services. If the deal is approved, American and Canadian plan to integrate their frequent-flier programs but won't coordinate flight schedules.
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