GAO (2008) Potential Mergers and Acquisitions Driven by Financial and Competitive Pressures, United States Government Accountability Office, Report to the Subcommittee on Aviation Operations, Safety, and Security, Committee on Commerce, Science, and Transportation, U.S. Senate, July 2008

http://www.gao.gov/new.items/d08845.pdf. Accessed July 6, 2010

GAO was asked to help prepare Congress for possible airline mergers or acquisitions. This report describes:

1. the financial condition of the U.S. passenger airline industry
2. whether the industry is becoming more or less competitive
3. why airlines seek to merge with or acquire other airlines, and
4. the role of federal authorities in reviewing proposed airline mergers and acquisitions.

To answer these objectives, we analyzed Department of Transportation (DOT) financial and operating data; interviewed agency officials, airline managers, and industry experts; and reviewed Horizontal Merger Guidelines and spoke with antitrust experts.