Fort Worth Chamber, Dallas Regional Chamber Issue Joint Statement on American Airlines Takeover Bid
FORT WORTH, Texas, April 20, 2012 /PRNewswire/ — The Fort Worth Chamber and Dallas Regional Chamber – the two largest Chambers in the region – held full board meetings Thursday and Friday mornings, and the subject of American Airlines was discussed.
Following those meetings, Fort Worth Chamber President and CEO Bill Thornton and Dallas Regional Chamber President and CEO Amb. James C. Oberwetter wish to speak as a single voice on the subject:
We are greatly concerned by the potential impact that American’s union employees’ support of U.S. Airways’ intentions could have on both the bankruptcy proceedings and the local economy, and are opposed to any mergers prior to American exiting bankruptcy. While it may seem to some that this is an option, it’s actually a damaging distraction that will disrupt American’s thoughtful process already in place to preserve the most jobs in Dallas/Fort Worth, and the state of Texas, both now and once American has exited bankruptcy.
American Airlines’ brand equity stands alone. Aviation is a legacy industry in our region, and American’s headquarters in Fort Worth and presence at DFW Airport brings international recognition to North Texas. The company has provided jobs for generations of residents who live in communities all across the region. In addition, American Airlines has benefited dozens of communities with charitable contributions. A merger risks losing all that, and more.
The best outlook for all American employees is for the airline to remain independent and headquartered in North Texas. We urge the creditors and unions working with American to not be distracted by the efforts of other carriers to disrupt the proceedings. Allow the bankruptcy process to run its course. American’s management has the exclusive right to submit a plan of reorganization until late September. Completing this essential step is in the best interests of American’s employees, creditors, Fort Worth, Dallas and all the communities served by American Airlines.
About the Fort Worth Chamber
The Fort Worth Chamber of Commerce, with more than 2,000 member businesses, is the largest chamber in the Tarrant County, Texas area. The Fort Worth Chamber assumes a leadership role in making Fort Worth, the 16th-largest city in the U.S., an excellent place in which to live, work and do business. For more information, contact the Fort Worth Chamber of Commerce at (817) 338-3333 or visit www.fortworthchamber.com.
About the Dallas Regional Chamber
The Dallas Regional Chamber is the area’s leading membership-driven business organization committed to promoting economic prosperity by leading economic development, driving improvements in public education, influencing public policy, and catalyzing and advocating for regional partnerships. The Chamber works to ensure the Dallas region will become the most economically prosperous region – and the most desirable place to live and work – in the United States. The Chamber is a not-for-profit organization comprised of businesses, which represent all facets of the North Texas business community. For more information, please contact the Dallas Regional Chamber at (214) 746-6600 or visit www.dallaschamber.org.
SOURCE The Fort Worth Chamber; Dallas Regional Chamber