best and most profitable carrier in the world
Doug Parker didn't bother setting modest objectives for the new American Airlines Group as he took over as chief executive Monday.
"Our goal is to go and restore American Airlines to its position as the greatest airline in the world," Parker told hundreds of cheering employees gathered at American's Fort Worth headquarters.
In a matter of a few hours, American left bankruptcy with a plan of reorganization and closed its merger with US Airways, and Authentic Wes Welker Jersey American Airlines Group began trading on Nasdaq under its new ticker symbol, AAL.
"It's truly the honor to be here to celebrate the new American Airlines," Chuck Hill, Nasdaq senior managing director, told the employees who had gathered to watch the bell ringing that would mark the beginning of AAL trading.
"It hasn't been an easy road," Hill said, "but doggone it, you Womens Wes Welker Jersey made it."
American, including parent AMR Corp., American Eagle and various subsidiaries, filed for bankruptcy protection on Nov. 29, 2011, more than two years ago. The filing came after years of financial losses $11.7 billion between Jan. 1, 2001, and Dec. 31, 2010.
The period included years of difficult relations between management and labor. Parker, chairman and CEO of US Airways, and US Airways president Scott Kirby secretly negotiated conditional labor deals with American's three unions in early 2012.
That put those unions one third of the nine member unsecured creditors committee in the bankruptcy case on the side of Wes Welker Jersey US Airways management and in favor of a merger.
The boards of AMR and US Airways agreed to a merger on Feb. 13, with a public announcement the following day. bankruptcy judge on Nov. Department of Justice lawsuit that threatened to derail the marriage.
Tom Horton, chairman, president and CEO of AMR and American Airlines, will serve for a short period as chairman of American Airlines Group, which will maintain its headquarters in Fort Worth. But most of the company's top leadership posts are coming from US Airways, including the CEO, president, chief financial officer, top legal official, top operations executive and top human resources executive.
Parker, speaking at a midmorning meeting of employees, praised Horton for reorganizing American and putting it in position to succeed.
"Thankfully because of Tom, we're a long way there," Parker said. "The work you guys have done under Tom's leadership over the last couple of years has been amazing. It's been invaluable."
Making an infrequent public appearance at American offices was Robert L. Crandall, 78, who retired from American in May 1998 after 25 years, the last 13 years as chairman and CEO.
"All of you have a chance to be part of a renaissance, to get back to a day when anything other than No. 1 is not acceptable," he told employees.
Crandall noted that the carrier had often been No. 1 in the wrong areas, such as lost bags.
"There are a lot of ways to measure a great airline. A great airline is an airline where the customer is always met with a smile. A great airline is one Authentic Peyton Manning Jersey where the airplane is always on time. A great airline is one where that airplane is not only on time but it's clean. A great airline is one that makes a profit every year," Crandall said.
"You can all make that Peyton Manning Jersey happen. I wish I was young enough to join you in the effort," he said.
On its first day of trading, American Airlines Group shares closed at $24.60. That's up 9 percent from US Airways' close on Friday of $22.55.
Industry analysts gave a thumbs up Monday to the new company.
"The main risk is now merger integration," CRT Capital analysts Michael Derchin and Kevin Starke wrote in a report. "We believe management knows from personal experience (US Airways/America West merger) and recent industry successes and failures, how to get it right. The new AAL is one of our favorite ideas."
CRT gave the company a buy recommendation and Womens Peyton Manning Jersey set a $31 price target.
In a report headlined "The Eagle Has Landed," Deutsche Bank analyst Michael Linenberg started American off with a buy rating and a $35 price target.
"We think there is significant upside potential to revenue, profitability, and, by extension, share price as American begins to benefit from its restructuring and merger synergies," Linenberg wrote.