American, US Airways announce $11 billion merger
Posted at: 02/14/2013 6:21 AM
| Updated at: 02/14/2013 6:41 AM
By: Associated Press | WHEC.com
American Airlines and US Airways say they're merging in a deal they value at $11-billion, creating the world's biggest airline.
The combined carrier will be called American Airlines but run by US Airways CEO Doug Parker. The airlines announced their deal Thursday.
Don’t expect to see any changes soon. American's bankruptcy judge has to approve the merger which could take up to six months.
This deal reduces the number of major U.S. airlines to four.