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American, US Airways announce $11 billion merger

By The Associated Press

This article was published February 14, 2013 at 7:38 a.m.

— American Airlines and US Airways have agreed to merge in an $11 billion deal that would create the world’s biggest airline.

The combined carrier will be called American Airlines and be based in Fort Worth, but US Airways Chief Executive Officer Doug Parker will run it.

The merger would reduce the number of major U.S. airlines to four: the new American, United, Delta and Southwest.

The deal is a coup for smaller US Airways Group Inc., which pushed for a merger almost as soon as American parent AMR Corp. filed for bankruptcy protection in November 2011.

While Parker runs the company, AMR CEO Tom Horton will serve as chairman until its first shareholder meeting, likely in mid-2014.

The boards of both companies approved the deal Wednesday. The companies announced it early Thursday and expect it to close in the third quarter of this year.

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Displaying 1 - 2 of 2 total comments

lilith2u says... February 14, 2013 at 8:32 a.m.

Great, so now instead of two bad airlines we'll have another giant that doesn't care about its customers. This has to be good news for Southwest, Frontier, and Jet Blue, that still think of their passengers as paying customers deserving of respect and compassion.

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Jackabbott says... February 14, 2013 at 8:45 a.m.

Where is Eric Holder and the Justice Department?? Still trying to pry druggies out of prison sentences??? How about enforcing the anti-trust laws for a change?
He could not or won't prosecute anyone involved in the Wall St. meltdown, won't enforce immigration laws nor allow local police officers do it either. What a sap.

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