Updated 02/14/2013 12:26 PM
CEOs: US Airways-American merger will create 'competitive, global powerhouse'
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CHARLOTTE – US Airways and American Airlines officially announced Thursday morning the much-anticipated $11 billion merger between the airlines. Their CEOs said in a news conference later that the combined company will be a competitive, global powerhouse.
The combined carrier will be called American Airlines and it will offer 6,700 daily flights to 340 destinations in 56 countries. US Airways CEO Doug Parker will lead the company and American Airlines CEO Tom Horton will become a nonexecutive chairman.
Parker says the merger creates new options for fliers and will be a good deal for customers of both airlines.
"Our two networks are extremely complementary and the result is a competitive alternative to other global carriers. We expect to maintain all the hubs and destinations currently served by American Airlines and US Airways, and that's great news for customers and the communities we serve," Parker said.
That means a significant presence at Charlotte/Douglas International Airport, US Airways' largest hub. The two airlines have a combined 10,000 employees in North Carolina.
Federal regulators will have to sign off on the deal but the companies do not expect any hurdles there. They hope to close the deal by the third quarter of 2013.