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

Thu Feb 14, 2013 5:16pm IST

American Airlines flight attendant Karen Stewart walks down from the rear exit of an American Airlines Boeing 737 at DFW International Airport as officials of AMR, American Airlines, Boeing and Airbus announce a major airplane manufacturing deal during a news conference at the airport in Dallas, Texas July 20, 2011. REUTERS/Darrell Byers

American Airlines flight attendant Karen Stewart walks down from the rear exit of an American Airlines Boeing 737 at DFW International Airport as officials of AMR, American Airlines, Boeing and Airbus announce a major airplane manufacturing deal during a news conference at the airport in Dallas, Texas July 20, 2011.

Credit: Reuters/Darrell Byers

Related Topics

Stocks

   

REUTERS - American Airlines and US Airways GroupLCC.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)

FILED UNDER:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

Funding Woes

Funding Woes

Co-founder of SpiceJet seeks time to finalise rescue  Full Article 

Regulating Airfares

Regulating Airfares

India considers temporary cap on airfares - government official  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Oil Price Forecast

Oil Price Forecast

Oil prices likely to rebound in second half of 2015: poll  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage