Posted at: 12/09/2013 3:40 AM
American Airlines emerges from bankruptcy protection and US Airways culminates its long pursuit of a merger partner when the two complete their deal Monday and create the world's biggest airline.
The merger survived a challenge from the government and criticism from consumer groups, who fear it will lead to higher prices. It's the latest in a series of mergers that will leave four airlines controlling more than 80 percent of the U.S. air-travel market and with more power than ever to limit seats and boost profits.
When American emerges from bankruptcy as American Airlines Group Inc., it will mark a monumental victory for CEO Doug Parker and his executive team at smaller US Airways, who convinced American's creditors that a merger made more sense than letting American fly solo.