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September 16, 2013

American CEO Horton sends "thank you" video to employees

American Airlines chief executive Tom Horton said thank you to the Fort Worth-based carrier's employees in a video posted to Youtube on Friday.

"It’s because of your commitment and professionalism that American is taking flight as we bring our restructuring to a close," Horton said in the video.

Last week, the bankruptcy judge approved American's restructuring plan which includes a merger with US Airways. However, the judge also denied Horton's $20 million compensation package that was part of the deal saying the payment did not conform to bankruptcy rules.

On Wednesday, Horton plans to ask the carrier's board of directors to remove his executive compensation from the merger agreement at their board meeting.

 

-Andrea Ahles

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