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

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DALLAS—American Airlines and US Airways will merge and create the world's biggest airline. The boards of both companies approved the merger late Wednesday, according to three people close to the situation.

The carrier keeps the American Airlines name but will be run by US Airways CEO Doug Parker. American's CEO, Tom Horton, will become chairman of the new company, these people said. They requested anonymity because the merger negotiations were private.

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