“Our people, our customers and the communities we serve around the world have been anticipating the arrival of the new American,” American Airlines CEO Doug Parker said in a news release. “We are taking the best of both US Airways and American Airlines to create a formidable competitor, better positioned to deliver for all of our stakeholders. We look forward to integrating our companies quickly and efficiently so the significant benefits of the merger can be realized.”
The merger occurred under parent company AMR Corporation and has officially formed the new American Airlines Group with a global network of 6,700 daily flights to more than 330 — including Colorado Springs and Denver — destinations in more than 50 countries. The Group employs more than 10,000 worldwide.
“The combined airline has the scale, breadth and capabilities to compete more effectively and profitably in the global marketplace,” officials stated in the release, which added that the new “oneworld” alliance will give customers access to more benefits and services over time: more national and international connectivity, more loyalty program opportunities, full digital integration and more aircraft.
US Airways will depart from its current Star Alliance on March 30, 2014 and immediately join the new oneworld division on March 31. The release goes on to explain that changes to operations will be seen over time with no immediate changes due to the 18 to 24 months it’s expected to take in order to receive a Single Operating Certificate from the Federal Aviation Administration. The two airlines will also continue to operate separate websites and reservation systems until further into the integration process.
The transaction is expected to generate more than $1 billion for American Airlines stakeholders and US Airways investors by 2015, according to the release. The new group will trade on NASDAQ Global Select Market under the symbols AAL and AALCP.