February 14, 2013 US Airways and American Airlines merging
In what has to be the most anticipated non-surprise event in the commercial aviation world US Airways and American Airlines agreed to merger. The new airline will be called American Airlines and will headed by Doug Parker. American’s creditors will own 72% of the new company with the remaining 28% going to US Airways stockholders. American CEO Tom Horton will stay on as non-executive chairman.
The deal still has to pass US Regulatory approval and the bankruptcy judge.