douglas parker is the chairman and c.e.o. of us airways. the company announced last month a plan to emerge with american airlines. if approved by regulators will create the nation's largest carrier. parker will take over as the chief executive of a combined company called american. mergers have been the industry solution to economic turbulence that has shaken aviation. they're worried consolidation will decrease competition and lead to higher fares. i'm very pleased to have douglas parker here at this table for the first time. welcome. >> thank you very much, charlie. happy to be here. >> rose: tell me about the airline industry today. i mean, if you don't consolidate, you die? is that sort of where we are? >> we don't need to csolite or die. us airways is doing very well stand alone. we in record profits last year. it isn't about survival but it is about doing what's best for our customers, our employeees, and the communities we serve. there are three airlines larger than us there ar. >> rose: there are the big four right now, of which you

douglas parker has been the chairman and chief executive officer of u.s. airways since 2005. before joining he served as president and ceo of american west airlines. he will be the second witness, actually, even though he is first in line. the first witness to testify and mr. thomas horton, chairman and chief executive officer of emi american airlines. mr. horton served as president of amr and held a number of positions with the airline. our third witness testifying today is dr. diana loss, director and vice president of the american antitrust institutes. a professor at the boulder, colorado program. prior to joining in 2001 she was a senior staff economist at the federal energy regulatory commission. finally, we have with us mr. william mcgee. journalist, writer, and consumer advocate for consumers union. of former editor in chief the report travel letter and a member of the department transportation future of aviation the advisory committee. thank you for appearing before our subcommittee today. i would ask all witnesses to rise and raise their right hand as i administer th