Continental Ends Talks With US Airways
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US Airways Group Inc.’s effort to realign its business and avoid a bankruptcy filing was set back after Continental Airlines Inc. broke off talks about sharing airline passengers and frequent-flier programs.
Unprofitable US Airways wants to ally with another U.S. carrier to help persuade the Air Transportation Stabilization Board to give it a $900-million loan guarantee. Such agreements let carriers build revenue by sharing passengers. US Airways said it may seek bankruptcy protection without a guarantee.
The airline’s shares rose 5 cents to $3.14 on the New York Stock Exchange.
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