American Airlines and US Airways agreed to merge. Valued at $11 billion, the deal was approved unanimously by the boards of both companies. Pending approvals from regulators, shareholders and the court overseeing AA's bankruptcy, the combined carrier would operate under the American Airlines brand, be headquartered in Dallas-Ft. Worth and led by chief executive Doug Parker, currently US Airways CEO. According to a joint statement, AA CEO Tom Horton would become non-executive chairman of the company "through its first annual meeting of shareholders, and will also serve as the combined airline's representative to the Oneworld alliance," confirming that US Airways would leave the Star Alliance. "The combined airline will offer more than 6,700 daily flights to 336 destinations in 56 countries," the statement noted. "The combined airline is expected to maintain all hubs currently served by American Airlines and US Airways, resulting in more travel options for customers."
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The global jet accident rate in 2014 reached an all-time low, although the number of passenger fatalities for the year was above average, the International Air Transport Association reported on Monday.... read more »