Tomorrow is Valentine’s day (AKA Nationally single awareness day) and whether you spend the day with a lover, a random okcupid date, or alone with your single friends drinking beer hating on your ex-lovers, it’s a day when the world (well part of the world) stops and recognizes romantic connections between people. The history of why why we celebrate Valentine and who Saint Valentine truly was is fairly diluted, but nonetheless, the day has become a hallmark holiday representing love and romance.
This year, Valentines Day 2013, a new connection will be formed, not one of love, but maybe one more of necessity. Some may even refer to it as an arranged marriage brought forth by bullying from others and creditors, yet it’s till happen no matter how much we may or may not agree with it. Tomorrow morning, American Air and US Airways is expected to announce their former merger. The knot will be tied and another legacy carrier will bite the dust!
Terry Maxon, who has been following the story since day one writes:
Please fasten your seat belts and hang on: We’ll have full details on the American Airlines-US Airways merger Thursday, but the airline boards are taking care of business Wednesday afternoon.
We are working on our story saying that American Airlines and US Airways will announce their merger Thursday. Bloomberg reported mid-afternoon Wednesday a deal has been worked out to be presented to the respective boards of directors, and that the boards are meeting to approve the agreement.
From what we’ve heard from people who know, it looks like this is the way it’ll go down:
– 72 percent for AMR creditors and other interests, 28 percent for US Airways shareholders.
– Doug Parker will be the chief executive officer.
– Tom Horton will be the non-executive chairman, for only a limited period before he departs post-merger.
– The plan is to announce the deal in the pre-dawn hours Thursday, followed by a 7:30 a.m. CST call with the analyst community, a Dallas/Fort Worth International Airport press conference in mid-morning, a 1 p.m. Dallas/Fort Worth Airport presentation to AA employees, with the video and audio broadcast to other locations.
– After that Parker and his entourage will return to Phoenix to meet with US Airways employees.
POSTSCRIPT: Unless it all blows up before the sun goes down Wednesday, we should add.
Love or Hate a new era is here.
So far we know:
The new airline will be called American
It will be part of the One World Alliance
The headquarters will be in Fort Worth and read by US Airways’ CEO Doug Parker
Tom Horton will be non-executive chairman for 1 year following and then will probably leave the airline.
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