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Market gains slip away Friday ... Severance for AA's Horton: About $20M ... Ford promotes Elena Ford ... Lawmakers push sales tax bill ... News from United Press International.
Chief Executive Officer Tom Horton will leave American Airlines post-merger with a nearly $20 million severance package, a regulatory fling says.
The boards controlling American Airlines and US Airways announced an $11 billion merger Thursday that creates the world's largest airline.
Markets close lower ... American-US Airways merger nearly complete ... Diesel cars growing as an option ... Consumer credit rose in fourth quarter ... News from United Press International.
American Airlines and US Airways were tying up final details on a merger that would create the world's largest airline, people close to the negotiations said.
US Airways Chief Executive Officer Doug Parker said the company could bide its time in its bid to merge with bankrupt U.S. rival American Airlines.
American Airlines' three largest unions said they have agreed to a labor deal with rival US Airways, paving the way for a merger between the two U.S. carriers.
US Airways Chief Executive Officer Doug Parker said the U.S. carrier had its "house in order" and could withstand a year of falling revenue.
US Airways Group, Inc. said its second quarter losses were reflective of the rising cost of jet fuel, a problem plaguing the airline industry.
US Airways expects its jet fuel costs to rise by $2 billion in 2008, its chief executive officer said.
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