The conclusion to the near 15 month American Airline bankruptcy case has been anxiously anticipated. After steep job cuts and contract re-negotiations, continued customer service reductions, and a roller coaster of potential buyout discussions, it seems as though the newly merged airline will emerge financially healthy.
Soaring Into The Future
A deal has finally been reached in the agreement to merge American Airlines with US Airways, in a whopping $11 billion buyout. Once combined the new airline unit will boast the label as the largest carrier in the country, parading a 900 plane fleet and offering 3,200 flights daily. Still pending court approval, many of the company employees are breathing a sigh of relief for the future of their continued employment.
Although some are in favor of the merger, it is no secret that the CEO of American Airlines, Tom Horton, has been outspoken against the idea of the merger with US Airways since the Chapter 11 case began in November of 2011. However, these days he is changing his tune as he is set to lead the new airline as executive chairman over the next year of future endeavors.