American Airlines-US Airways merger
 |
|
| Public | |
| Traded as |
NASDAQ: AAL NASDAQ-100 Component DJTA Component S&P 500 Component |
| Industry | Aviation |
| Predecessors |
AMR Corporation US Airways Group |
| Founded | December 9, 2013 in Fort Worth, Texas |
| Headquarters | CentrePort, Fort Worth, Texas, United States |
|
Number of locations
|
350 destinations* |
|
Area served
|
Worldwide |
|
Key people
|
Doug Parker (Chairman & CEO) Robert Isom (President) Derek Kerr (CFO) |
|
Production output
|
6,700 daily flights (2013) |
| Services | Air transportation |
| Revenue |
 US$40.180 billion (2016) |
|
US$5.284 billion (2016) |
|
| Profit |
US$2.676 billion (2016) |
| Total assets |
 US$51.274 billion (2016) |
| Total equity |
US$3.785 billion (2016) |
|
Number of employees
|
118,500 (2015) |
| Divisions | American Airlines Cargo American Eagle American Airlines Shuttle |
| Subsidiaries |
American Airlines, Inc. Envoy Air Inc. Piedmont Airlines, Inc. PSA Airlines, Inc. |
| Website | www |
|
Footnotes / references * Hubs in Charlotte, Chicago, Dallas, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington |
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American Airlines Group, Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas. It was formed December 9, 2013, in the merger of AMR Corporation, the parent company of American Airlines, and US Airways Group, the parent company of US Airways. The airline groups together form the largest airline in the world, with more than 6,700 daily flights to 336 locations in 56 countries worldwide, about $40 billion in operating revenue, over 100,000 employees, and plans to take delivery of 607 new aircraft, including 517 narrowbody aircraft and 90 widebody international aircraft. The integration of American Airlines and US Airways was completed when the Federal Aviation Administration granted a single operating certificate for both carriers on April 8, 2015.
In January 2012, US Airways Group, the parent company of US Airways, expressed interest in taking over AMR Corporation, the parent company of American Airlines. In March, AMR's CEO Tom Horton said that the company was open to a merger. US Airways (US) told some American Airlines (AA) creditors that merging the two carriers could yield more than $1.5 billion a year in added revenue and cost savings. On April 20, American Airlines' three unions said they supported a proposed merger between the two airlines. With AMR under Chapter 11 bankruptcy protection, American Airlines had been looking to merge with another airline. Earlier in July, a bankruptcy court filing stated that US Airways was an American Airlines creditor and "prospective merger partner"; on August 31, US Airways CEO Doug Parker announced that American Airlines and US Airways had signed a nondisclosure agreement, in which they would discuss the possibility of a merger.
In February 2013, American Airlines and US Airways announced plans to merge, creating, by some measurements, the largest airline in the world. In the deal, which was expected to close in the third quarter of 2013, stakeholders of AMR would own 72% of the company and US Airways shareholders would own the remaining 28%. The combined airline carries the American Airlines name and branding. The holding company was renamed American Airlines Group Inc. The US Airways' management team, including CEO Doug Parker, retained most operational management positions. In effect, the management of US Airways took over American Airlines, but retaining the American name. The headquarters for the new airline was also consolidated at American's current headquarters in Fort Worth, Texas. US Airways exited Star Alliance upon completion of the merger, and American retained its Oneworld alliance. Judge Sean Lane approved the merger on March 27, 2013, but declined to approve a proposed $20 million severance package to AA executive Thomas W. Horton. On July 12, US Airways shareholders approved the proposed merger.
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