Airline recognized for historic merger and major financing
FORT WORTH, Texas, May 23, 2014 /PRNewswire/ -- American Airlines has been honored with two awards from Airfinance Journal, including Overall Deal of the Year for its merger with US Airways, and Airline Treasury Team of the Year for its work on a major aircraft order and other financing.
The awards are being made at Airfinance Journal's 34th Annual New York Airfinance Conference on Thursday and Friday. The magazine recognized American after reviewing all of the airline and aircraft financings of 2013, and chose a winner based on size, innovation and execution.
"American's $17 billion merger changed the U.S. aviation landscape permanently. It was a deal we couldn't ignore," said Airfinance Journal Editor Dickon Harris.
The magazine also noted that in just one year, American's financing included $5.9 billion for aircraft and other purposes, all while arranging the merger.
"We couldn't be more proud of our treasury and finance teams for their navigation through one of the most complex reorganizations and mergers in the history of our industry," said Chief Financial Officer Derek Kerr. "Their efforts resulted in the most successful restructuring in airline history, with a full recovery for creditors and a return for shareholders that was unprecedented. We've positioned the company well for the years ahead."
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines and US Airways. Together with wholly owned and third-party regional carriers operating as American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to 339 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. The American Airlines AAdvantage and US Airways Dividend Miles programs allow members to earn miles for travel, vacation packages, car rentals, hotel stays and everyday purchases. Members of both programs can redeem miles for tickets as well as upgrades to First Class and Business Class. In addition, AAdvantage members can redeem miles for vacation packages, car rentals, hotel stays and retail products. American is a founding member of the oneworld alliance, whose members and members-elect serve nearly 1,000 destinations with 14,250 daily flights to 150 countries. Connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines and follow US Airways on Twitter @USAirways and at Facebook.com/USAirways.
SOURCE American Airlines