CHICAGO – Bankrupt American Airlines’ proposed merger with US Airways Group stands to impact all airports, but several large US Airways hubs are most at risk for change should the stalled marriage eventually get done, Wells Fargo Securities LLC says in a municipal commentary.

Smaller hub airports may come out ahead if the proposed union falls apart, but overall airport credit quality benefits from a strengthened airline industry, concludes the report from Wells Fargo municipal securities research. A quick resolution of the merger dispute is in the best interests of the sector as the uncertainty makes capital planning by airports all the more difficult.

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