American Airlines Strengthens Its Domestic Domain
(EMAILWIRE.COM, January 10, 2001 ) In an important strategic move, American Airlines announces that it has entered into three transactions that will dramatically strengthen and increase the scope of its domestic network and create broader customer choice.
American Airlines plans to purchase substantially all the assets of TWA in conjunction with its Chapter 11 bankruptcy and integrate it into American Airlines. This means that there will be a continued hub operation in St. Louis and continued opportunity for TWA employees. Earlier today, TWA was forced to file for Chapter 11 due to lack of cash.
American also announced that it has agreed to acquire certain key strategic US Airways assets, including 14 gates, 36 slots, 66 owned aircraft and an additional 20 leased aircraft, as well as the gates and slots necessary for American to operate half of the northeast shuttle with United Airlines.
Finally, American will acquire a 49 percent stake in, and enter into an exclusive marketing agreement with, DC Air, the first significant new entrant at Washington Reagan airport in more than a decade.
Taken together these are great transactions for American's customers, employees and investors.
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Produced for American Airlines
Contact:
John Hotard
American Airlines
817/967-1577
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American Airlines plans to purchase substantially all the assets of TWA in conjunction with its Chapter 11 bankruptcy and integrate it into American Airlines. This means that there will be a continued hub operation in St. Louis and continued opportunity for TWA employees. Earlier today, TWA was forced to file for Chapter 11 due to lack of cash.
American also announced that it has agreed to acquire certain key strategic US Airways assets, including 14 gates, 36 slots, 66 owned aircraft and an additional 20 leased aircraft, as well as the gates and slots necessary for American to operate half of the northeast shuttle with United Airlines.
Finally, American will acquire a 49 percent stake in, and enter into an exclusive marketing agreement with, DC Air, the first significant new entrant at Washington Reagan airport in more than a decade.
Taken together these are great transactions for American's customers, employees and investors.
-------------------
Produced for American Airlines
Contact:
John Hotard
American Airlines
817/967-1577
-------------------
Contact Information:
American Airlines
Joseph Nchor
Tel:
Email us
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American Airlines
Joseph Nchor
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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