WASHINGTON, Feb. 28, 2013 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) applauds the recent merger of our long standing and trusted partner, American Airlines, with US Airways. American Airlines is one of the oldest and most reputable companies in the aviation sector, employing 87,000 people worldwide, operating over 3400 flights every day to an estimated 250 cities in more than 40 countries around the world. The merged entity will keep the name American Airlines.
The $11 billion deal will allow the combined entity to become the nation's largest airline carrier and secure its standing as one of the leading global competitors in commercial aviation. Tom Horton, Chief Executive of American Airlines will become chairman of the new board, and Doug Parker, Chief Executive of US Airways, will take over as the CEO of the combined airlines.
The new American Airlines will offer 6,700 daily flights to 336 destinations in 56 countries, while simultaneously helping to secure 70% of the American market by domestic carriers.
"The USHCC is delighted with the announcement of this merger, as it exemplifies the spirit of American business and allows one of our nation's most iconic brands to continue to thrive in global markets," said President & CEO Javier Palomarez. "This merger will result in a more focused, efficient industry leader whose flights will better facilitate commerce at home and abroad. American Airlines has remained steadfast in delivering high performance standards even under difficult circumstances. The USHCC has stood proudly by our friends at American Airlines, and I am certain this merger will undoubtedly make American Airlines a worldwide leader in commercial aviation."
"After months of exhaustive analysis and a thorough review of all alternatives, we concluded that this merger is the best outcome for our company, delivering not only the greatest value for our financial stakeholders but also positioning us well for sustainable success over the long term," said American Airlines Chief Executive Tom Horton.
Important to the USHCC is the fact that American Airlines and US Airways continue to lead the industry's corporate practices in diversity hiring and contracting. American's Diversity Advisory Council has executed successful workplace minority-hiring, with the company's Hispanic workforce currently standing at 15%.
"We hope this merger will strengthen the tradition of minority contracting at American, and expand the access to such opportunities for Hispanic Business Enterprises and other minority-owned firms," concluded Palomarez.
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3 million Hispanic-owned businesses across the United States that contribute in excess of $465 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.
CONTACT: Valentina Pereda, USHCC Communications Manager 202-735-7729 firstname.lastname@example.orgSource:United States Hispanic Chamber of Commerce