American, US Airways Announce Merger

    American-US Airways-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:

    Audio clip:

    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.