UPDATE: American Airlines and US Airways announced in a statement Monday morning that their merger has been officially completed.
(NEW YORK) — American Airlines and US Airways are set to sign merger documents on Monday, which would create the largest airline in the world.
The deal also means that American is emerging from Chapter 11 bankruptcy.
The combined carrier will operate under the American Airlines name and will be based in Fort Worth, Texas, the headquarters of American. US Airways CEO Doug Parker will head the new company.
Consumer groups warn, however, that the merger will lead to higher prices, as it will leave four airlines in control of more than three-quarters of the air travel market in the U.S.
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John Newsome and Anne Woolsey, CNN