Articles tagged “tom horton”

Tom Horton may be losing reigns of the world's largest airline, but he's walking away with the knowledge that he helped seal an industry-shaking deal and that a plump severance package awaits.

The U.S. trustee raised objections to Horton's severance earlier so this is not a complete surprise. Still, the issue of the American Airlines CEO's golden parachute may become a little more pesky than initially envisioned. Maybe he'll have to take a discount.

One can expect some real profits from the new American once the merger goes through in light of continued this airline consolidation, and all the costs American is shedding through the bankruptcy process.

It is difficult to stomach giving $20 million to a CEO of an airline in bankruptcy, a company that resisted a merger and has been bleeding losses over the last few years.

"Reasonable and appropriate" is what $20 million buys you in severance.

The two airlines will start their transition planning and assembling integration teams, but the heavy lifting can't begin until the fourth quarter of 2013.

Parker has clearly proven his qualifications to lead an American Airlines-US Airways merger, while Richard Anderson at Delta is poised to be the biggest winner.