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US Airways, America West complete merger
In the largest US airline merger since American Airlines acquired TWA in 2000, US Airways emerged from Chapter 11 and completed its merger with America West Airlines, with the US Airways brand surviving.The carriers plan to begin codesharing on Oct. 5. Emphasizing its claim to being "the largest full-service low-cost airline" in the US, the company's new common stock is trading under the symbol LCC on the New York Stock Exchange, where US Airways Chairman and CEO Doug Parker rang the opening bell on Tuesday, stating, "Today we start a new chapter in aviation history." The company's shares closed at $19.30, off 8% from the opening.
The carriers will continue to maintain separate operating certificates for up to three years as they work through staff integration issues among the mostly union workforce. In the short term, websites and reservations systems also will operate separately.
In combination, the two offer a network covering 229 cities in the US, Canada, the Caribbean, Latin America and Europe served by approximately 3,600 daily flights. Main hubs are in Charlotte, Phoenix and Philadelphia, with secondary hub/focus cities at Las Vegas, Pittsburgh, New York LaGuardia and Reagan Washington National Airport. In addition, Piedmont and PSA, two wholly owned Regional subsidiaries, will continue to operate in the US Airways Express network.
Interestingly, US Airways has maintained its membership in the Star Alliance, making it the only self-described LCC in the global partnership.
In the largest US airline merger since American Airlines acquired TWA in 2000, US Airways emerged from Chapter 11 and completed its merger with America West Airlines, with the US Airways brand surviving.The carriers plan to begin codesharing on Oct. 5. Emphasizing its claim to being "the largest full-service low-cost airline" in the US, the company's new common stock is trading under the symbol LCC on the New York Stock Exchange, where US Airways Chairman and CEO Doug Parker rang the opening bell on Tuesday, stating, "Today we start a new chapter in aviation history." The company's shares closed at $19.30, off 8% from the opening.
The carriers will continue to maintain separate operating certificates for up to three years as they work through staff integration issues among the mostly union workforce. In the short term, websites and reservations systems also will operate separately.
In combination, the two offer a network covering 229 cities in the US, Canada, the Caribbean, Latin America and Europe served by approximately 3,600 daily flights. Main hubs are in Charlotte, Phoenix and Philadelphia, with secondary hub/focus cities at Las Vegas, Pittsburgh, New York LaGuardia and Reagan Washington National Airport. In addition, Piedmont and PSA, two wholly owned Regional subsidiaries, will continue to operate in the US Airways Express network.
Interestingly, US Airways has maintained its membership in the Star Alliance, making it the only self-described LCC in the global partnership.