#Awa airline full#

US Airways, which last year made its second trip into bankruptcy in two years, slashed worker pay by $1 billion a year and shed $3 billion in pension obligations. US Airways President and CEO Bruce Lakefield said the merger will ensure US Airways' long-term viability and the security of its employees. 'Through this combination, we are seizing the opportunity to strengthen our business rather than waiting for the industry environment to improve.'

#Awa airline full#

'Building upon two complementary networks with similar fleets, closely aligned labor contracts and two outstanding teams of people, this merger creates the first nationwide full service low-cost airline,' said Doug Parker, chief executive and president of America West Holdings. The merger's goal is to stitch together two geographically distinct carriers with a history of financial struggles into a stronger airline that would compete better with lower-cost rivals such as Southwest Airlines Inc. The companies said Thursday they will operate under the name US Airways and will be funded by $1.5 billion in new capital from a variety of investors, including aircraft maker Airbus. and America West Holdings Corp., the nation's seventh and eighth largest carriers, are merging to create an airline that they hope will be able to compete with lower-cost competitors.