The boards of American Airlines and US Airways reportedly met separately Wednesday, approving the terms of a merger which will both increase the companies’ presence in North America and compete with rivals Delta and United Airlines.
The deal — which will make US Airways chairman and CEO W. Douglas Parker and also adjust the role of American’s Tom Horton — comes as American is leaving bankruptcy. It still needs to pass several steps; the New York Times and others are reporting that shareholders and bankruptcy judge in New York must approve the deal. The deal is also subject to approval of the Justice Department.
All told, the merger would make the airline one of the biggest in the world. Read more on the deal at USA Today.