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US Airways won't fight to merge with Delta

US Airways' plan to merge with Delta is apparently a kinder, gentler kind of hostile takeover. CEO Doug Parker tells USA Today that US Airways will only go through with the plan "if we're all working together on this." Otherwise, "it's not going to happen."

Well, that changes things. Delta management has said from the beginning that it does not welcome a US Airways merger and has its own plan to emerge from bankruptcy as an independent airline. Delta executives will unveil that plan to bankruptcy creditors later this month.

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The merger could still happen, of course, but if I were a betting man I'd file this one under "dead in the water."

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