Executives of American Airlines and US Airways told lawmakers yesterday that combining their companies will benefit consumers by creating a tougher competitor for industry giants United and Delta, Businessweek.com reported. Although an American-US Airways merger would create the world's largest airline, the new American would still have less than 25 percent of the U.S. market, the executives said. The executives made the comments at a hearing of the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law Subcommittee yesterday. American, owned by AMR Corp., and US Airways Group Inc. announced on Feb. 14 that they planned to merge in a deal valued at $11 billion in stock. The new airline would be called American but will be run by US Airways' CEO Doug Parker.
For prepared testimony from the hearing, please click here:
http://judiciary.house.gov/hearings/113th/hear_02262013_2.html