American, US Airways announce $11 billion merger

By DAVID KOENIG | February 14, 2013 | 7:31 AM EST

DALLAS (AP) — American Airlines and US Airways say they're merging in a deal they value at $11 billion, creating the world's biggest airline.

The combined carrier will be called American Airlines but run by US Airways CEO Doug Parker.

The airlines announced their deal Thursday.

It reduces the number of major U.S. airlines to four.