According to FOX News, American Airlines and U.S. Airways announced plans to create a mega-airline worth approximately $11 billion. The new airline will use the American Airlines name and logo and will pass United Continental as the biggest U.S. airline. It will offer 6,700 flights to 56 countries each day.
AMR, the parent company of American Airlines has been in bankruptcy since 2011. Before the merger can be approved, it must go through the bankruptcy court and a credit approval, as well as, the Department of Justice.
FOX News reports that U.S. Air will own 28% percent of the company while AMR owns the other 72%.
To read the full article, follow this link to FOX News.
