US Airways, American Airlines to Merge in $11B Deal
Feb. 14 (Bloomberg) -- US Airways Group Inc., spurned in three prior merger attempts, will combine with bankrupt AMR Corp.’s American Airlines in an $11 billion deal to create the world’s largest carrier.
US Airways Chief Executive Officer Doug Parker will run the new airline, which will retain American’s name, as AMR CEO Tom Horton becomes chairman, the companies said today in a statement. Adam Johnson reports on Bloomberg Television's "Surveillance." (Source: Bloomberg)