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Author
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Topic: Horton and Parker Meet At Breakfast
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Irish
Post Captain
Member # 722
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posted
From the Dallas Morning News...7/19/12
US Airways chairman and CEO Doug Parker and his counterpart at American Airlines, Tom Horton, met Thursday morning at a Washington hotel and discussed a potential merger and how American plans to review its options.
According to multiple news media accounts, Horton and Parker sat down to talk, a day after Parker told the National Press Club that the only parties that seemed to resist a merger were the senior management at American.
Although the two had discussed in broad terms a potential merger in the past, it apparently was their first conversation on the subject since Parker began working in late 2011 to push a merger.
The Associated Press cited an unknown as saying that “Horton spelled out the process his company will follow in weighing whether it remains independent or merges with another airline. Horton neither favored nor ruled out a deal with US Airways.”
Bloomberg reported that Horton told Parker that American “won’t be rushed into any merger.”
Posts: 1404 | From: Hampton, NH and Naples, FL
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Bob Ritchie
Post Captain
Member # 1035
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posted
American...
....has five billion $$ in the bank! They are earning operating profits in bankruptcy: indeed their cash postition has improved since filing. AA had industry leading gains in yields for the firt two quarters of this year.
USAirways...which is actually America West....being USAirways in name only... is a sick carrier(currently profitable on the backs of it's employees) which has never even combined the former American West and old USAirway. They have been bankrupt themselves as had been American West. USAirways has a dismal future as a stand alone airline, having begged AA to buy them for years. Parker knows that their only long term hope is to force a shotgun marriage or offer one heck of a dowry..
Parker has presented a meaningless "smoke and mirror" offer to the AA employes: without even considering his own unhappy workers. The employees have used the USAirways offers to enhance their leverage with AA management during negotiations.
If there is a merger between AA and USAirways it will be on AA's terms and AA will be the surviving airline. What happens to AA's current management is an open question.
If the employees of American think that things are bad at AA....they need to talk to the employees of USAirways. Probably the worse working conditions and lowest pay in the industry.
Bob
Posts: 1752 | From: Warren County, Missouri
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Subsonic Transport
Post Captain
Member # 2139
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posted
I know a few people that are going through a merger....none of them like it at all. Those AA employees better be embracing it to put pressure on management becuase if they actually want a merger....the only people to gain from it is upper management. They'll go from one nightmare into another.
Posts: 413 | From: Buffalo, NY
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Bob Ritchie
Post Captain
Member # 1035
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posted
AMERICAN AIRLINES JUST KEEPS GETTING STRONGER!
•$6.5 billion in quarterly revenue, the highest in company history and a 5.5 percent increase over last year
•9.1 percent increase in consolidated unit revenue, with increases across all five of our hubs and all international entities
•$95 million profit before reorganization and special items, our first second-quarter profit in five years and a $381 million improvement over the same period last year
•All-time-high consolidated load factor of 84.5 percent
•Ended quarter with approximately $5.8 billion in cash and short-term investments
Posts: 1752 | From: Warren County, Missouri
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