American Airlines, US Airways merger creates world's biggest airline
American聽Airlines聽has emerged from bankruptcy protection and US Airways culminated its long pursuit of a merger partner after the two completed their deal Monday to create the world's biggest聽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聽airlines聽controlling more than 80 percent of the U.S. air-travel market and with more power than ever to limit seats and boost profits.
American聽emerges from bankruptcy as聽American聽Airlines聽Group Inc. It will mark a monumental victory for CEO Doug Parker and his executive team at smaller US Airways, who convinced聽American's聽creditors that a merger made more sense than letting聽American聽remain an independent company.
Plans call for Parker to mark the day by ringing the opening bell on the Nasdaq Stock Market, where the new company will debut under the ticker symbol AAL. Parker's team will spend the next two years or longer combining the two carriers.
The聽American聽Airlines聽name will live on, while US Airways will join Continental, Northwest and other聽airlines聽that now exist only in the memories of employees and longtime travelers.
