US Air, AMR near US$11b merger, deal seen within week

US Airways Group and AMR are nearing an US$11 billion merger that would create the world’s largest airline and could announce a deal within a week, after resolving key differences on valuation and management structure, people familiar with the matter said.

Under terms of a deal that are still being finalised, US Airways chief executive Doug Parker would become chief executive of the combined entity, while AMR’s Tom Horton would serve as non-executive chairman of the board until spring of next year, when the combined company holds its first annual meeting, the sources said.

via Business feed http://www.scmp.com/business/companies/article/1147850/us-air-amr-near-us11b-merger-deal-seen-within-week