American Airlines, US Airways say plan $11 billion merger

Thu Feb 14, 2013 11:41am GMT

Quotes

   

Feb 14 (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.