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New American Airlines emerges as deal closes

December 9, 2013 • Business


File-This Aug. 13, 2013 file photo shows an American Airlines plane between two US Airways planes at Washington’s Ronald Reagan National Airport. American Airlines emerges from bankruptcy protection and US Airways culminates its long pursuit of a merger partner when the two complete their deal Monday, Dec. 9, 2013, and create the world’s biggest airline. (AP Photo/Susan Walsh, File)

FORT WORTH, Texas (AP) — American Airlines emerged from bankruptcy protection and US Airways culminated its long pursuit of a merger partner as the two completed their deal Monday to create the world’s biggest airline.

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. With less competition, the airlines have successfully limited the number of seats, boosting prices and returning to profitability.

American’s old parent, AMR Corp., is gone, replaced by the new American Airlines Group Inc. CEO Doug Parker remotely rang the opening bell of the Nasdaq Stock Market, flanked on stage by executives and labor leaders of both airlines and in front of a crowd of cheering employees.

“Our goal here is to go and restore American Airlines to its position as the greatest airline in the world,” Parker said. The largest airline as recently as 2008, American struggled Login to read more

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