Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/21/2012 (3 years ago)

Catholic Online (

Striking deals, airline has won support of labor unions

U.S. Airways has filed papers to begin a merger with American Airlines. U.S. Airways CEO Doug Parker is quick to say that an earlier report that said an agreement between the two airlines had already been reached. Bringing the proposed merger closer with reality, U.S. Airways has struck deals with labor unions at American Airlines to win their support for a possible merger with American.

U.S. Airways has filed papers to begin a merger with American Airlines. U.S. Airways CEO Doug Parker is quick to say that an earlier report that said an agreement between the two airlines had already been reached.

U.S. Airways has filed papers to begin a merger with American Airlines. U.S. Airways CEO Doug Parker is quick to say that an earlier report that said an agreement between the two airlines had already been reached.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

4/21/2012 (3 years ago)

Published in Business & Economics

Keywords: American Airlines, U.S. Airways, merger, unions

LOS ANGELES, CA (Catholic Online) - The unions represent more than 50,000 workers including pilots, flight attendants and ground workers. American Airlines is the nation's third-largest airline.

Both American and its parent, AMR Corp., are operating under bankruptcy protection.

Chairman and CEO of U.S. Airways Group Inc. Doug Parker, says that in order to win a merger with American, his company still needs support of AMR's creditors, management and board of directors.

"But this is obviously an important first step along that path, and we are hopeful we can all work together to make this happen," Parker said in a note to U.S. Airways employees.

Parker said a merger could save about 6,200 jobs at American, or nearly half the jobs that American wants to eliminate. He also says he would keep both airlines' current hubs and planes to create a bigger company that could compete against United Airlines and Delta Air Lines.

In a statement, the three unions at American say that a merger with U.S. Airways is the best way to fix American, which filed for bankruptcy protection in November.

The unions oppose American's plan to cut 13,000 union jobs and sharply cut labor costs to return to profitability. American is seeking to throw out contracts with the unions that govern pay, benefits and work rules, and impose its own terms on employees.

U.S. Airways and the unions said that they have agreed on terms for collective bargaining agreements if there is a merger between the airlines. No such agreement currently exists.

Thomas Horton, who is the CEO of American Airlines' parent company, AMR Corp., has indicated he would prefer that AMR remain independent. Horton does say he is open to a merger after his company emerges from bankruptcy protection. The gambit by U.S. Airways and the American Airlines unions could complicate Horton's strategy, however.

In morning trading, shares of US Airways Group Inc., fell 27 cents, or 2.8 percent, to $9.24.



Pope Francis: end world hunger through 'Prayer and Action'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

Construction of high-speed rail between L.A., Las Vegas approved by U.S., China Watch

Image of Signed before Chinese President Xi Jinping's state visit to the U.S., the project is a milestone in China's efforts to market its high-speed rail technology in advanced economies.

By Catholic Online (NEWS CONSORTIUM)

A joint venture to build a high-speed railway linking Las Vegas and Los Angeles has been agreed upon. The project will be the first Chinese-made bullet-train project in the U.S. LOS ANGELES, CA (Catholic Online) - XpressWest Enterprises LLC, along with a China ... continue reading

PENDING FED DECISION: U.S. may be due for the first rate hike in 10 years Watch

Image of A relative

By Catholic Online (NEWS CONSORTIUM)

The Federal Reserve may have to make a very hard decision shortly. "If the Open Market Committee takes the plunge, it will be the first US rate hike in nearly 10 years," Telegraph columnist Jeremy Warner says. LOS ANGELES, CA (Catholic Online) - It will be the ... continue reading

Bear market looms, Yale University market scholar warns Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

There is widespread concern that U.S. stocks are overvalued, which will lead to a ferocious bear market unseen since the "Dot-com" bubble burst in 2000. According to research by Yale University market scholar and Nobel economics laureate Robert Shiller, while ... continue reading

Job participation rate in U.S. at 38-year low Watch

Image of According to Bureau of Labor Statistics, the nation's civilian non-institutional population - which means that all people 16 years of age or older who were not in the military or an institution -- reached 251,096,000.

By Catholic Online (NEWS CONSORTIUM)

Americans not participating in the labor force jumped by a whopping 261,000 more in August than there was in July. The participation rate in U.S. labor remained at 62.6 percent, a 38-year low, for a third straight month in August. These are "cheerful" ... continue reading

Islamic State attempts to replace the U.S. dollar with gold coins Watch

Image of A five denar piece featuring a picture of seven wheat stalks, representing the

By Kenya Sinclair (NEWS CONSORTIUM)

The Islamic State has announced it will be producing gold currency with the goal of weakening the dollar. LOS ANGELES, CA (Catholic Online) - A video posted Saturday, August 29th by the Islamic State warns that replacing the dollar will be "the second blow to America's ... continue reading

Art collectors seek liquidity as market plummets Watch

Image of Picasso piece auctioned for a record $179.4 million.


Inquiries about art loans reportedly increased after global equities plunged. The unfortunate event led many to view their collections as assets and investment to cash-in.  MUNTINLUPA, PHILIPPINES (Catholic Online) - Bloomberg Business reports many collectors and ... continue reading

All Business & Economics News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Jonah 4:1-11
1 This made Jonah very indignant; he fell into a ... Read More

Psalm, Psalms 86:3-4, 5-6, 9-10
3 take pity on me, Lord, for to you I cry all the ... Read More

Gospel, Luke 11:1-4
1 Now it happened that he was in a certain place ... Read More

Saint of the Day

Saint of the Day for October 7th, 2015 Image

St. Artaldus
October 7: Artaldus (also called Arthaud) was born in the castle of ... Read More