As you may have heard, American Airlines and US Airways have been negotiating a potential business transaction. According to the Dallas Morning News, we may be close. Terry Maxon at the Dallas Morning News Airline Biz Blog has a good summary:
- 72 percent for AMR creditors and other interests, 28 percent for US Airways shareholders.
- Doug Parker will be the chief executive officer.
- Tom Horton will be the non-executive chairman, for only a limited period before he departs post-merger.
- The plan is to announce the deal in the pre-dawn hours Thursday, followed by a 7:30 a.m. CST call with the analyst community, a Dallas/Fort Worth International Airport press conference in mid-morning, a 1 p.m. Dallas/Fort Worth Airport presentation to AA employees, with the video and audio broadcast to other locations.
- After that Parker and his entourage will return to Phoenix to meet with US Airways employees.
I have stated on more than one occasion that you will not get a lot of information on this merger from this blog. As a former AA employee, with people I think a great deal of in both management and union ranks, I just don’t think it’s appropriate for me to pontificate about it. I’d probably make most of my friends, and at least half of my readers mad with me anyway. I’ll just watch with great interest with the best hopes for the new company.