American Airlines, US Airways Merger Poised for Approval

Image via PASSPORT

Image via PASSPORT

A merger between US. Airways and American Airlines was temporarily threatened by a lawsuit filed by federal regulators, but yesterday the parties reached a settlement and the Department of Justice announced its intent to approve the merger.

However, the agreement does require that the new airline release 52 slot pairs (a reservation to land or depart at a given time) at Washington Reagan National Airport, 17 slot pairs at New York LaGuardia Airport, and two gates each at Boston Logan, Chicago O’Hare, Dallas Love Field, Miami International, and Los Angeles International to rivals in the name of fair competition. A press release issued by the companies stated that they don’t expect any significant changes in projected revenue as a result of these conditions, or any changes in employment as a result of the merger.

The merger is expected to be completed in December. Overall, the new company will operate more than 6,700 daily flights to 336 destinations in 56 countries around the world including 15 daily flights between London and New York as well as new nonstop service from Dallas/Fort Worth to Seoul, South Korea according to a fact sheet.

Like
Like Love Haha Wow Sad Angry

Related Post