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Parker will be chairman and CEO after Horton steps down as chairman in 2014. Parker would get $19.5 million if he is terminated by the new company for a reason other than misconduct, according to a separate filing Monday. The merger is a coup for Parker, who just a decade ago was running a much smaller carrier called America West Airlines. He merged that airline with US Airways, and then relentlessly pursued a deal with AMR. According to Monday's filings, US Airways executives briefed their board about a potential merger in April 2011
-- seven months before American and AMR filed for bankruptcy protection. As has been previously reported, Parker and Horton even spoke about a deal during an industry event that year, but Horton initially dismissed the idea, saying American preferred to focus first on fixing its own business. Parker persuaded American's unions and many AMR creditors that a merger would fare better than an independent American, however, and forced AMR into negotiations. Leaders of the two companies then haggled over ownership split and management titles. AMR creditors and unions will own 72 percent of the new company, and US Airways shareholders will get the other 28 percent.
[Associated
Press;
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