American Airlines, US Airways say plan $11 billion merger
Posted : Thursday, 14 February 2013 06:44AM
(Reuters) - American Airlines and US Airways Group <LCC.N> 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 <AAMRQ.PK>, 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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