Is the New American Airlines Proof That the Industry Is Finally Fixed?

A US Airways plane waits to taxi to the runway at Ronald Reagan National Airport, on Nov. 15 Photograph by Andrew Harrer/Bloomberg

The merger of US Airways and American Airlines, which exited bankruptcy today, is probably the last big deal for U.S. carriers in two important ways: It’s the final piece of a consolidation the airline industry has sought for years, and it’s the last large transaction regulators will likely permit. Now the airlines’ performance over the next few years will prove whether such a drastic restructuring has truly fixed the long-ailing industry’s finances.

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