MORNINGSTAR INC analyst Brian Nelson said the failure of the US Airways-Delta merger probably signals the end of dreams for airline industry consolidation that some on Wall Street hoped to see. Proponents of the merger argued that the best hope for the industry is to contract to a group of three strong carriers that would have the financial strength to withstand cyclical economic turbulence.
US Airways Group announced Wednesday that it was withdrawing its $9.8 billion hostile bid for Delta Air Lines. US Airways cited a lack of support from the committee that represents creditors in Delta’s bankruptcy reorganization.
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