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American, US Airways Announce Merger
US Airways was once rescued out of bankruptcy in a merger. Now it’s going to fly American out of its financial trouble, creating the world’s biggest airline.
FOX News Radio’s Jeff Monosso reports:
American Airlines and US Airways say they’ve agreed to an $11 billion, merger making the combined carrier the biggest in the world.
US Airways pushed for the deal when American Airline’s parent company AMR filed for bankruptcy in 2011.
A bankruptcy judge still needs to sign off on the merger that both carriers say will save them $1 billion per year.
If approved, the combined airline will be run by US Airways CEO Doug Parker but keep the name American.
Jeff Monosso, FOX News Radio.