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AMR Armour Grp

3.25
0.00 (0.00%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Armour Grp LSE:AMR London Ordinary Share GB0000496611 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.25 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

UPDATE:US Atty Gen:DOT To Consider DOJ Input On Air Alliances

17/06/2009 9:01pm

Dow Jones News


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U.S. Attorney General Eric Holder told a Senate panel Wednesday that the Justice Department's antitrust regulators have reached out to the Department of Transportation to offer input on pending applications by airlines seeking antitrust immunity for new alliances.

"I think we will come to a joint resolution on how this issue should be resolved," Holder said.

Sen. Herb Kohl, D-Wis., expressed concern that the Transportation Department would act unilaterally to grant immunity to new airline alliances without getting input from the Justice Department about the competitive effects of such agreements.

Continental Airlines (CAL) and United Airlines (UAUA) have an immunity application for their proposed alliance pending at the Transportation Department, as do American Airlines (AMR) and British Airways (BAY).

Critics say the alliances, in which airlines cooperate on services and fares in international markets, harm the competitive marketplace and are bad for consumers. Airlines say the agreements improve service and provide cost-saving efficiencies.

Holder told Kohl that the Transportation Department has pledged to work with DOJ in deciding whether to approve future alliances.

"That's good to hear," Kohl responded.

Under questioning from Sen. John Cornyn, R-Texas, Holder confirmed that the Justice Department asked its Transportation counterpart for time to weigh in on Continental's bid to join United's Star Alliance.

The Transportation Department gave preliminary approval to the alliance in April, and Cornyn expressed concern about the delay in the airlines obtaining a final decision.

Holder said his department's involvement wouldn't produce a long delay and that a decision on the alliance could come in a few weeks.

The U.S. House passed a bill last month aimed at curtailing airline alliances. The legislation would sunset all antitrust immunities for air alliances in three years and would require a federal study of how the air alliances affect competition.

The Senate hasn't taken any action on the House bill.

-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com

 
 

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