American Airlines and US Airways merge to create world's biggest airline

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.

The deal still needs approval by American's bankruptcy judge and antitrust regulators.

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