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Thursday, February 14, 2013

American Airlines, US Airways say plan $11 billion merger, (NYSE: LCC)

American Airlines and US Airways Group said they plan to merge in a deal that will form the world's biggest air carrier, which will have a combined equity value of $11 billion. The merger caps a wave of consolidation that has helped put U.S. airlines on more solid financial footing.The widely expected deal has been more than a year in the making. American, a unit of AMR Corp, filed for Chapter 11 bankruptcy in November 2011, and US Airways began its pursuit of a merger in early 2012.

US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC remained unchanged at $14.66. In the past year, the shares have traded as low as $6.78 and as high as $15.64. On average, 6336830 shares of LCC exchange hands on a given day and today's volume is recorded at 9900.