The new American will stay in the oneworld airline alliance with partners including British Airways and Japan Airlines. For US Airways passengers, that will eventually mean an end to redeeming miles on Star Alliance members United and Lufthansa.
The new board of directors will have 12 members: Three from American, including Horton; four from US Airways, including Parker; and five appointed by American’s creditors. Horton said AMR’s bankruptcy creditors might be repaid in full. He noted that his company cut costs, reduced debt and moved ahead with orders for new planes during the bankruptcy process, increasing AMR’s value to US Airways.
That, he said, ‘‘allowed us to make a deal with US Air that was on the right terms for American and our people.’’
Shares of US Airways fell 67 cents, or 4.6 percent, to close at $13.99.
Freed reported from Minneapolis. Associated Press Writer Suzette Laboy in Miami contributed to this report.
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