FORT WORTH, texas — American Airlines plans to exit bankruptcy as a stand-alone carrier and would consider making acquisitions afterward, chief executive Tom Horton said Friday.
“All of our energy and focus is on completing the restructuring as an independent company,” Horton said. “We don’t want to be distracted by the notion of mergers right now.”
American wants to negotiate new labor agreements as part of a plan unveiled this week to cut 13,000 jobs and cut annual operating costs by $2 billion, Horton said. That would damp the risk of outside offers for the parent company and achieve a goal of leaving bankruptcy by year-end, he said.
The third-largest U.S. airline became a takeover target after filing for court protection Nov. 29. US Airways has confirmed hiring advisers to examine a possible bid, while Delta has done the same, a person familiar with the matter has said.
Making an acquisition is a possibility after AMR reorganizes, said Horton, 50, who became CEO on the day the company entered Chapter 11.
