‘Barron’s Roundtable’ panels discuss investment opportunities among airline stocks.
United CEO Scott Kirby’s bold pitch to President Donald Trump has left American Airlines CEO Robert Isom in the lurch, with analysts predicting the board could oust him in the wake of the industry shake-up.
Kirby reportedly lobbied Trump to give his blessing to the merger, fueling speculation that Isom was pulling out.
“I suspect that one of the results will be that this proposal will make the American board and their unions turn around and say ‘get rid of Bob Isom,'” Michael Boyd, CEO of Boyd Group International, told FOX Business.
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United Airlines CEO Scott Kirby speaks during a joint press event with Boeing at the Boeing manufacturing facility in North Charleston, South Carolina, on Dec. 13, 2022. (Logan Cyrus/AFP via Getty Images)
Isom is already mired in a leadership crisis. In February, the Association of Professional Flight Attendants (APFA) issued a a unanimous vote of no confidence to Isom, citing a “perpetual decline” in his leadership.
Allied Pilots Association (APA) is also published an open letter full of wounds stating their lack of trust in the leadership of American Airlines.
Now, the reported meeting between Kirby and Trump where the CEO of United is suspected urged Trump because his blessing of the merger has fueled speculation that Isom is getting squeezed.
American Airlines CEO Robert Isom has been tapped to head the carrier. (Nathan Posner/Anadolu via Getty Images)
“This is a proud airline… but it’s an airline that has been, frankly, underserved. Because of that, I think the very fact that a competitor can say, ‘oh, we’ll take you,’ will send that board into a cool place,” Boyd said.
American Airlines said in a statement Friday that it is “not involved or interested” in merger talks with United.
“While changes in the broader airline market may be necessary, a combination with United would be detrimental to competition and consumers, and therefore inconsistent with our understanding of the industry’s management philosophy and the principles of antitrust law,” the carrier said. “We will focus on achieving our strategic goals and positioning America to win for the long term.”
United Airlines told FOX Business, “We have nothing to share.”
A potential deal could face antitrust hurdles. (United Airlines)
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It could also be a milestone in Kirby’s revenge tour after the United CEO was fired as president of American Airlines.
“This could be the last appearance,” View From The Wing Writer Gary Leff wrote.
United Airlines CEO Scott Kirby, left, and American Airlines CEO Robert Isom listen as Transportation Secretary Sean Duffy speaks to reporters outside the White House on Oct. 30, 2025, Washington, DC. (Kevin Dietsch / Getty Images / Getty Images)
Despite the palace’s subtlety, however, the scope and scale of the mega-merger has analysts questioning its feasibility.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| UAL | UNITED AIRLINES HOLDINGS INC. | 101.80 | +6,77 |
+7.12% |
| AAL | AMERICAN AIRLINES GROUP INC. | 12.78 | +0.51 |
+4.16% |
Going through the “minefield of maintenance issues” alone could seal the deal, Boyd said. “Remember that a 787 at United is not the same as a 787 at American. The maintenance programs are different. The fleet is different. The cabins may be different. Putting all that together is obscenely expensive.”
A potential deal could face antitrust hurdles. “Fewer options mean higher ticket prices, more fees, and fewer options for anyone looking to get from point A to B,” said Ganesh Sitaraman, author of “Why Flying Is Miserable,” he told Reuters.
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“It seems unlikely that industry rivals, consumer groups and unreliable authorities I’d rather go with this,” aviation analyst Stephen Trent he told Morningstar.
The proposed merger would combine the two largest airlines in the world by available seat kilometers (ASK), a metric. provided by the Official Airline Guide (OAG).
American said in a statement that it was “not involved or interested” in the merger talks with United. (Al Drago/Bloomberg via Getty Images)
This couple also built more than a third of domestic market share with a combined market capitalization of $3 billion. But their global market share is small compared to their US dominance. The two had just over 1 billion ASKs in 2025, which was less than 10% of the 2025 global share of more than 11.5 ASKs, according to data from OAG and the International Air Transport Association (IATA).
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Transport Secretary Sean Duffy has previously indicated that the sector has room for aviation consolidation, although he added, “I’m not going to commit to anything.”
FOX Business reached out to the Federal Trade Commission for comment but did not immediately receive a response.
