The executive who led American Airlines through bankruptcy reorganization has joined the board of Walmart. The retailer on Monday named Tom Horton as a director.
American Airlines and US Airways on Monday morning agreed to extend their merger agreement, pushing back the date that either carrier could terminate their merger plan.
A judge asked American Airlines’ lawyers to explain why he should approve the company’s plan to merge with US Airways and exit bankruptcy protection while the merger is being challenged by the federal government.
There has been a shake-up for the management team at American Airlines. The changes were announced on Monday morning, and are set to start once the company merges with US Airways.
American Airlines and US Airways will soon announce the senior executives of their combined company. The airlines said that an announcement could come in late May or early June.
American Airlines was back up and running on Wednesday morning after a computer glitch forced the carrier to cancel nearly 1,000 flights on Tuesday.
A federal bankruptcy judge has denied a proposed $20 million severance payment for the CEO of American Airlines as part of the company’s merger with US Airways.
The widely-expected decision by Judge Sean H. Lane helps clear the way for the two carriers form the world’s biggest airline, with 6,700 daily flights and annual revenue of roughly $40 billion.
A federal official opposes a nearly $20 million severance payment to the CEO of the parent company of American Airlines in the carrier’s proposed merger with US Airways.
American Airlines has promoted an executive closely involved in overseeing the proposed merger with US Airways.
When the airline filed for bankruptcy in November 2011, Tom Horton was simultaneously elevated to CEO. But from the minute he reached the top, a number of forces started converging against him.
AMR CEO Tom Horton won’t get to lead the new American Airlines after it merges with US Airways, but he will get a going-away prize of nearly $20 million.