EU approval for American-US merger
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The European Commission has approved the merger of American Airlines and US Airways.
The move marks the latest stage of clearance for the venture, which would create one of the largest airline groups on the planet and a major force in trans-Atlantic aviation. American currently operates a European joint venture with oneworld alliance partners British Airways, Iberia and Finnair, while US Airways operates a range of trans-Atlantic routes and codeshares from its hubs at Philadelphia and Charlotte.
Currently part of the Star Alliance, US Airways relinquish its membership following the merger with American, with the new company forming part of oneworld.
“The clearance by the European Commission is an important step toward closing this merger. The new American will benefit customers in the United States, Europe and across the world by enhancing connectivity within the oneworld alliance and creating more options for travel both domestically and internationally. We look forward to providing access to the best destinations in the world as the new American Airlines,” said Doug Parker, chairman & CEO of US Airways, and incoming CEO of the combined company.
Tom Horton, chairman, president & CEO of AMR, and incoming chairman of the new company, added; “We are very pleased that the EU has approved the merger between American Airlines and US Airways. This represents one of the final milestones on our path to becoming the new American Airlines.”
American and US Airways intend agreed to combine to create the new American Airlines, offering more than 6,700 daily flights to 336 destinations in 56 countries, using a fleet of almost 950 aircraft.
The merger is subject to further regulatory approvals, but the companies continue to expect to complete the deal in the third quarter of 2013.
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