US Airways “open†to merger
Monday, 24 Feb, 2010
0
US Airways is open to merging with another US carrier, according to the carrier’s financial chief.
Speaking at the Reuters Travel and Leisure Summit in New York, chief financial officer Derek Kerr said the airline is not in merger talks with another carrier because "it takes two to tango."
But he added that the US domestic airline industry has too many major players.
US Airways, the fifth largest US airline, is not interested in merging with a foreign airline because that would not cut capacity in the domestic market, according to Kerr.
"I don’t think that will make a difference,” he said. "Domestic is where there is too much fragmentation and there are too many airlines."
US Airways was acquired by America West in 2005 and tried but failed to buy Delta Air Lines in 2007 through a hostile bid.
"It’s five major carriers. It’s too fragmented," Kerr told the Reuters Summit. "You have too many hubs, all chasing the same passengers trying to connect through the country. We believe that it needs to be consolidated."
by Phil Davies
Phil Davies
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