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World's largest airline created with American, US Airways merger

The new company will have a network of 6,700 daily flights to 330 destinations in 50 countries.

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American Airlines merged with US Airways on Monday to become the largest airline in the world. (Kevork Djansezian/Getty Images)

American Airlines and US Airways cleared a last legal hurdle on Monday to create the world's largest commercial airline.

AMR Corp., American Airlines' parent company and US Airways Group Inc. will be brought under one roof in what is considered the last of the major US airline mergers.

The new company will take the American Airlines name and be based out of Fort Worth, Texas.

It will have a network of 6,700 daily flights to 330 destinations in 50 countries.

The new American Airlines will have 100,000 employees around the world.

“Our people, our customers and the communities we serve around the world have been anticipating the arrival of the new American,” Doug Parker, CEO of American Airlines, said in a statement.

“We are taking the best of both US Airways and American Airlines to create a formidable competitor, better positioned to deliver for all of our stakeholders."

The merger is seen by some as the last fix for the ailing airline industry in the US.

American Airlines was pulled from bankruptcy on Monday and Bloomberg says that the potential for profitability is there.

This new super airline, which goes into effect in 18 to 24 months, will have a larger network than competitor United, which merged with Continental in 2010.

Shares of the new airline will begin trading on the Nasdaq under the name AAL. Those holding shares of US Airways will get a one-for-one exchange.

http://www.globalpost.com/dispatch/news/business/131209/worlds-largest-airline-created-american-us-airways-merger