The new airline will be led by US Airways CEO Doug Parker, who will serve as chief executive officer and a member of the board of directors. Tom Horton, American's CEO, will serve as chairman of the combined airline's board through its first annual meeting of shareholders, the ABC news reported.
Under the terms of the deal, US Airways shareholders would own 28 per cent of the combined airline, while American Airlines shareholders, creditors, labour unions and employees would own 72 per cent, the airlines said in a joint statement.
Latest Business News
