American Airlines stock sinks after it says a United merger isn't happening
The Fort Worth-based carrier called a potential combination with United "negative for competition and for consumers"
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American Airlines rejected any merger with United Airlines, saying it has no interest in pursuing such a deal. American Airlines stock is down over 4% at market open today on the news.
In a statement issued April 17, the company said it is "not engaged with or interested in any discussions regarding a merger with United Airlines." The airline said a combination with United would be "negative for competition and for consumers," and would be "inconsistent with our understanding of the Administration's philosophy toward the industry and principles of antitrust law."
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American Airlines said its focus would remain on "executing on our strategic objectives and positioning American to win for the long term." The company also said it looked forward to working with the Trump administration "as it takes steps to strengthen the broader airline industry."
The statement opened by acknowledging "the leadership and strong support of President Donald Trump, Secretary Duffy and numerous other leaders in the Administration."