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)
Trending On Reuters
The double-digit stock market gains of pharmaceutical giants including Dr. Reddy's Laboratories and Wockhardt stand out in stark relief to the dismal performance of other Asian emerging-market stocks this year. Full Article