"The announcement today represents a substantial premium to the value that would have been created through the demerger of the business and we expect to return a significant majority of net proceeds to shareholders", Chief Executive Alison Brittain said.
"American Airlines is committed to the China market and will offer our customers more flights to more destinations between North America and Asia," said Alison Taylor, the airline's senior vice president of global sales and distribution.
Alison Brittain, chief executive of Whitbread, said: "The coffee shop market in China is highly attractive, with a compelling opportunity for Costa to grow its presence over the longer term.
"Western China International Fair is a fantastic opportunity for Australian businesses to showcase their products and to explore investment opportunities in western China," said Alison Airey, Chief Executive Officer of the New South Wales branch of the Australia China Business Council.
The agreement must be approved by US District Judge Alison Nathan, who has presided over the case.