WYMT | Eastern KY | News, Weather, Sports

New American Airlines to emerge as deal closes

U.S. (AP) - American Airlines emerges from bankruptcy protection and US Airways culminates its long pursuit of a merger partner when the two complete their deal Monday and create the world's biggest airline.

The merger survived a challenge from the government and criticism from consumer groups, who fear it will lead to higher prices. It's the latest in a series of mergers that will leave four airlines controlling more than 80 percent of the U.S. air-travel market and with more power than ever to limit seats and boost profits.

When American emerges from bankruptcy as American Airlines Group Inc., it will mark a monumental victory for CEO Doug Parker and his executive team at smaller US Airways, who convinced American's creditors that a merger made more sense than letting American fly solo.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WYMT CONTACT INFO 199 Black Gold Blvd. Hazard, KY 41701 606-436-5757 - switchboard 606-439-9968 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 235037051 - wkyt.com/a?a=235037051