American CEO says asset sales totaled $381 million

By The Associated Press | Posted - Mar. 10, 2014 at 1:11 p.m.



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DALLAS (AP) — The CEO of American Airlines says his company is getting $381 million from selling takeoff and landing rights at New York's LaGuardia Airport and Reagan National Airport outside Washington.

Doug Parker's figure is less than the government's. In comments filed today in federal district court in Washington, the Justice Department put the value of the sales at more than $425 million.

Parker says, "That's their valuation, not ours." He says the government might have included the value of slots that American picked up at New York's Kennedy Airport.

Parker says his airline was paid more than it expected for the slots at the two busy airports.

American and US Airways agreed to give up some of their slots at LaGuardia and Reagan to satisfy Justice Department antitrust concerns about their merger. They also agreed to give up two gates each at airports in Los Angeles, Chicago, Boston, Miami and Dallas.

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The Associated Press

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