Today, is a historic day as American Airlines and US Airways announce plans to create the new American Airlines. Together, we will create a premier global carrier with an expanded worldwide network, a strong financial foundation, a modern and efficient fleet, and the industry's best team of people who will offer an unparalleled travel experience for our customers.
Over the past few months, we conducted a thorough review of alternatives to strengthen American for the future and determined that this combination delivers the most value for our stakeholders and the best outcome for our customers and people. As a combined carrier – the new American – we will have an expanded network to even better match where customers want to fly and enhanced ability to invest in our fleet, modern technologies, and the products and services our customers value most.
We've been making progress toward building a new American – from transforming our fleet with the largest aircraft order in history, to modernizing the travel experience, and refreshing our iconic brand. This merger is our next step in the process of building the leading global airline.
American and US Airways combine two highly complementary networks with access to the best destinations throughout the U.S. and around the globe. Together we will offer our customers more than 6,700 daily flights to 336 destinations in 56 countries by maintaining all the hubs currently served by both airlines.
When the new American arrives, we will provide more options than any other airline across the East Coast and Central U.S. regions, and expand and further strengthen our network on the West Coast. The combined airline will add to our reach across the Atlantic and Pacific and bolster American's industry-leading position in Latin America and the Caribbean. We'll also enhance our existing loyalty program benefits through expanded opportunities to earn and redeem miles across the combined network.
The new American will continue to give customers options for travel and benefits both domestically and internationally through continued membership in the oneworld® Alliance. As they do today, our oneworld Alliance partners will offer access to a range of destinations, airline choices, and earning and redemption opportunities.
At this time, American and US Airways will remain separate companies and you can continue to count on American for excellent service and safe, reliable travel. We expect the merger to be completed in the third quarter of 2013 and will keep you updated. I invite you to visit www.aa.com/arriving to keep up with our progress.
Both American and US Airways are distinguished by our proud histories and look forward to our bright future as we build the world's leading airline.
Thank you for your continued loyalty, and we look forward to welcoming you aboard soon!
Thomas W. Horton
Chairman & CEO