US air groups near merger

City A.M. Reporter
US Airways and American Airlines parent AMR are nearing an $11bn (£6.7bn) 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, sources said yesterday.

The deal would come more than 14 months after AMR filed for bankruptcy in November 2011, and would mark the last combination of legacy US carriers, following the Delta-Northwest and United-Continental mergers.