New American Airlines comes out as world's top carrier after merger
By Veronica Smith, AFP
December 11, 2013, 12:30 am TWN
WASHINGTON--American Airlines emerged as the world's largest airline Monday, combining with US Airways after a hard-fought battle to overcome U.S. competition concerns.
AMR Corporation, the parent of American Airlines, and US Airways Group announced they had completed the deal after AMR emerged from bankruptcy protection.
The new American Airlines Group is a goliath, providing nearly 6,700 daily flights to more than 330 destinations in more than 50 countries.
“Our people, our customers and the communities we serve around the world have been anticipating the arrival of the new American,” said Doug Parker, chief executive of American Airlines and the former chairman and CEO of US Airways.
“We are taking the best of both US Airways and American Airlines to create a formidable competitor, better positioned to deliver for all of our stakeholders. We look forward to integrating our companies quickly and efficiently so the significant benefits of the merger can be realized.”
The creation of a third giant carrier to compete with U.S. rivals United and Delta cleared a major hurdle in November after the Justice Department announced a settlement to resolve antitrust concerns.
Under the agreement, AMR and US Airways are giving up slots and other rights at seven key airports to low-cost airlines.
The two airlines are abandoning a significant number of slots at two of the busiest airports on the East Coast — 34 at New York's La Guardia and 104 at Washington's Reagan National.
The new American is committed to maintaining hubs in New York's Kennedy International, Los Angeles, Miami, Chicago's O'Hare, Philadelphia, Phoenix and Charlotte for three years.