American Airlines and US Airways have announced plans to merge, in a deal that would form the world's biggest airline.
The move had been widely touted after the two boards were said to have met on Wednesday Feb 13,2013.The merger will bring American Airlines closer in value to rival Delta Airlines, with an estimated market valuation of $11bn (£7bn)
The lion's share of the new company will be owned by American Airlines' bankruptcy creditors, who will have 72% of the company. The carrier will be run under the American Airlines brand, but the chief executive will be the current US Airways boss, Doug Parker
The new airline
- To offer more than 6,700 daily flights
- Will serve 336 destinations in 56 countries
- To have more than 900 planes
- Will have 95,000 employees
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