Fort Worth, Texas can now boast it is home to the world's largest airline. American Airlines and US Airways merged Monday in a long-anticipated union meant to give new life to the airline industry.
The merger, completed almost a year after the two airlines first announced the merger, also lifted American Airlines out of bankruptcy. The two airlines, operated by AMR Corp. and US Airways Group, will now be known as American Airlines Group Inc., the Los Angeles Times reported.
Labor Unions, including the Association of Professional Flight Attendants for American Airlines, celebrated the new airline.
"Christmas has come early for the APFA," union President Laura Glading told the Los Angeles Times. "It's been a long, tough slog, but today our hard work has paid off."
Experts say the merger will pay off for years to come. Four of the largest U.S. airlines - American, United, Delta and Southwest- now manage around 84 percent of domestic flights, Bloomberg Businessweek reported.
"I think there are some permanent changes to the U.S. industry now that suggest that financial performance in the future should be a lot better than the past 35 years under deregulation," CRT Capital airline analyst Michael Derchin told Bloomberg Businessweek.
It will take nearly two years for the new America Airlines Group to have planes and employees from both companies working as one, the Los Angeles Times reported. For now, travelers for American Airlines and US Airways will book flights on each company's own website. Members of both companies frequent fliers clubs will start to see benefits early next year, USA Today reported.
Once the merger is complete, America Airlines Group will operate close to 6,700 flights daily and employ more than 100,000 workers. The flights will travel to 330 destinations in over 50 countries, the Lost Angeles Times reported.
