The two struggling airlines that serve opposite sides of the country said their proposed merger is a buffer against the new era of low-cost rivals, high fuel costs and cheap fares.
The combined company has attracted $1.5 billion in new capital from several investors, including a $250 million loan from Airbus. The European aircraft maker has long been a supplier to both airlines.
If the combination gets government, shareholder and labor approvals, the new company would become the nation’s No. 6 airline in terms of passenger miles, an industry measure.
