US Airways, America West complete merger

US Airways, America West complete merger    US Airways Group Inc. and America West Tuesday finalized their merger enabling operations to commence under the single brand of US Airways.
   The new US Airways Tuesday began trading on the New York Stock Exchange under the LCC symbol. The merged airline has nearly 38,000 employees, and will operate about 4,000 flights daily to about 225 countries in North America, Europe, Caribbean and Latin America.
   America West and US Airways will maintain separate operating certificates for approximately two to three years. The two airlines’ operating certificates will be combined after Federal Aviation Administration approvals have been granted.
   “We are confident that the enthusiasm and professionalism of our employees, combined with the experienced leadership team we have selected to run the new airline will give us greater financial stability and competitive strength in the marketplace,” said Doug Parker, US Airways’ chairman, president and chief executive officer.
   Following the merger announcement, Standard & Poor’s, the New York-based investment rating service, assigned its ‘B-‘ corporate credit rating to US Airways Group and operating subsidiary US Airways Inc. Both ratings were placed on CreditWatch with negative implications, pending completion of America West’s CreditWatch review.
   “The combined entity will face significant hurdles, particularly integration of its labor forces,” said Standard & Poor’s credit analyst Betsy Snyder. “However, the company will benefit from stronger liquidity following new equity investments and loans, and a more extensive route network.'
   ACE Aviation Holdings Inc., parent holding company of Air Canada, said Tuesday it has completed its planned $75 million investment in the merged US Airways-America West entity. “As US Airways moves forward post emergence, we expect to see an acceleration of, and increasing growth in, the work that Air Canada Technical Services does for the new carrier,” said William Zoeller, president and CEO of ACTS.