Thursday, February 14, 2013
Airlines announce merger
American Airlines and US Airways are merging, paving the way for the creation of the nation's largest airline. The deal, formally announced Thursday morning, is valued at $11 billion. Under the terms, US Airways shareholders would own 28 percent of the combined airline, while American Airlines shareholders, creditors, labor unions and employees would own 72 percent. The larger company will operated under the American Airlines name, with headquarters in Fort Worth, Texas. (Source: Multiple, including New York Times, Los Angeles Times, 02/14/13) Gulf Coast note: Both airlines serve New Orleans, Gulfport, Miss., Mobile, Ala., and Pensacola and Valparaiso/Eglin in Florida.