The airline industry has a long memory, so it's unlikely to forget about Doug Parker's drunken driving arrest anytime soon.
Parker, the CEO of US Airways(LCC Quote), was arrested last month, hours after the demise of the carrier's $10 billion bid to take over rival Delta(DALRQ Quote). The incident is noteworthy because Parker, at 45, has emerged as the new face of the airline industry. Two years ago, the likable executive was running small, financially troubled America West Airlines. In 2005, he took over even more-troubled US Airways, one of the six surviving legacy carriers, and turned the combination into one of the country's most profitable passenger-jet companies. Then in November, Parker launched the bid for Delta, which would have created the world's largest airline. He failed, but his status as an industry leader was enhanced, and US Airways was clearly established as a likely player in the next round of industry consolidation, whenever it comes. Not only Parker's prominence but also the circumstances make the incident compelling. Because the arrest came just after Delta's creditors rejected the merger effort, it's easy to empathize with Parker's decision to have a couple of drinks -- though perhaps not with his decision to get behind the wheel afterward. Who cannot imagine an ironic toast -- "I'm glad that's over" -- after the deal collapsed? Parker had no doubt been run ragged by a doomed two-and-a-half month pursuit that included efforts to win over Delta's creditors, members of Congress, analysts, employees and the media. He was on the defensive last month at a Senate hearing on airline consolidation, where he faced hostile questions with merger opponents looking on.- Loading Comments...
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