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American Airlines, U.S. Airways say plan $11 billion merger

Source : REUTERS
Last Updated: Thu, Feb 14, 2013 11:57 hrs
American Airlines flight attendant Stewart walks down from the rear exit of an American Airlines Boeing 737 at DFW International Airport in Dallas

REUTERS - American Airlines and US Airways Group said they plan to merge in a deal that will form the world's biggest air carrier, which will have a combined equity value of $11 billion.

The merger caps a wave of consolidation that has helped put U.S. airlines on more solid financial footing.

The widely expected deal has been more than a year in the making. American, a unit of AMR Corp , filed for Chapter 11 bankruptcy in November 2011, and US Airways began its pursuit of a merger in early 2012.

(Reporting by Karen Jacobs in Atlanta and Sagarika Jaisinghani in Bangalore)



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