NEW YORK (CNN/Money) - Union and management negotiators at American Airlines have reached agreement on a framework to keep the company out of bankruptcy, but both sides need to win approval from their respective boards, according to a congressman who brought the two sides together.
Rep. Martin Frost, D-Texas, said Thursday the agreement was reached late Wednesday night after 12 hours of meetings. He did not know any of the details of the deal, which was reached after he and three other congressmen left the meeting earlier Wednesday, but he said representatives from both sides told him of the agreement.
Rep. Martin Frost, D-Texas, said Thursday the agreement was reached late Wednesday night after 12 hours of meetings. He did not know any of the details of the deal, which was reached after he and three other congressmen left the meeting earlier Wednesday, but he said representatives from both sides told him of the agreement.
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