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US: The rumors were true – $11B merger to create world’s biggest airline

By  |  February 14, 2013

The news reported earlier by CPI concerning a merger that would create the world’s largest airline appears to be true. A deal has reportedly been reached between American and US Airways airlines for a merger worth about $11 billion. The combined entity will remain under the name American Airlines and expects an annual revenue of $40 billion offering more than 6,700 flights a day. US Airways Group Inc. CEO Doug Parker will run the new airline. According to reports, the deal was spearheaded by Parker, who looked to find a buyer soon after American’s parent company AMR Corp. filed for bankruptcy protection in November of 2011. The parties expect the deal to close by the year’s third quarter and say they expect regulatory approval. The US will now have four major airlines, including United, Delta and Southwest.

 

Full Content: Associated Press

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