| ziosqpqiwis | Date: Wednesday, 01 May 2013, 21:41:54 | Message # 1 |
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| SCOTTSDALE, Ariz. 鈥?No <a href=http://www.longchampoutletstoreonline.com>Longchamp sale</a> decision has been made about what stock ticker symbol will be used when the new American Airlines Group Inc. begins trading on stock markets, the airline鈥檚 future chief executive said Wednesday.
But US Airways Group Inc. chairman and chief executive Doug Parker said he doubts that the company 鈥?to be formed by a merger of US Airways and American鈥檚 parent, AMR Corp. 鈥?will use the <quote>AMR</quote> symbol that鈥檚 been used since 1982.
The reason: AMR was created as a holding company for American as the airline鈥檚 leadership wanted to diversify into other businesses. Parker said the thinking then was <quote>the airline business is not a profitable business. It鈥檚 a terrible business. We can鈥檛 make money at it. We want to do other things,</quote> like consulting, fixed-based operations at airports and investment services.
That message may have been right for that period, but it鈥檚 not right now, Parker said during US Airways annual media day.
<quote>We want to get away from that. We want our people to <a href=http://www.chloepascher.com>Sac Chlo茅 Soldes</a> understand that we鈥檙e here for one reason. We鈥檙e going to run the best airline, and that鈥檚 what we are,</quote> Parker said.
<quote>We are an airline. That鈥檚 what we do. That鈥檚 <a href=http://www.chloepascher.com>Sac chloe pas cher</a> what our people are going to do. It鈥檚 a noble profession, and we鈥檙e going to do it very well,</quote> he said. <quote>So because <a href=http://www.onlinehermesoutlet.com/>Hermes Birkin Bag 35 Dim Gray Silver</a> of that I suspect we will not use the AMR symbol.</quote>
Parker, who will become American鈥檚 CEO when the merger closes later this year, said he and American鈥檚 chairman and CEO, Tom Horton, have discussed the issue. He emphasized that no decision has been made about the symbol under which the stock will trade after the merger.
Much of Wednesday鈥檚 media day, held at an Indian-owned casino and resort in this Phoenix suburb, focused on explanations about how US Airways and AMR managers are working together to decide how the merger will be implemented.
Parker, US Airways president Scott Kirby and others acknowledged that, despite the planners鈥?best efforts, there undoubtedly will be hiccups when the two airlines are put together over the next several years.
They displayed statistics that showed that US Airways鈥?on-time performance plummeted in the months around the March 2007 integration of its reservations systems with the system used by previous merger partner America West Airlines Inc.
But they also pointed out how US Airways has become an industry leader among the big network carriers in a number of areas, including on-time departures and arrivals and baggage handling, going from bottom to top or near the top in the years since the 2005 merger of America West and US Airways.
They took time before the American merger to compile a <quote>little bible</quote> of all the things they learned from the previous merger so they could duplicate the successes and avoid the failures.
As they had previously, <a href=http://www.balenciaga-outelts.com>Balenciaga Outlets</a> Parker, Kirby and others emphasized the lesson they learned from Delta Air Lines Inc., which absorbed smaller Northwest Airlines Inc. after a 2008 merger. Delta decided to use the systems that Delta had in place, in most cases, rather than bring in Northwest鈥檚 systems.
That <quote>adopt and go</quote> philosophy differed from the US Airways-America West merger. That company鈥檚 management team, largely drawn from America West, decided to use some of America West鈥檚 system post-merger, and found significantly more implementation problems than Delta did in its merger.
Despite the difficulties, Parker said the potential synergies of the American-US Airways merger 鈥?estimated to be at least $1 billion annually by 2015 鈥?make it worthwhile.
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