An announcement of a merger between American Airlines and US Airways could come early next week as the two sides move closer to completing the final details of a deal, sources familiar with the deal said.
It appears US Airways chief executive Doug Parker will lead the merged carrier while AMR chief executive Tom Horton will stay on as a non-executive chairman for a specific period of time, a source familiar with the deal said Wednesday.
Creditors and bondholders at AMR have also decided on the equity split, the sources said; however, they cautioned that discussions were still ongoing and items could change.
According to The Wall Street Journal, American creditors would own about 72 percent of the airline and US Airways shareholders about 28 percent, although those figures are still being discussed.
Both American and US Airways declined to comment on the possible merger.
The executive arrangement is similar to what happened in the United Airlines-Continental Airlines merger in 2010. United chief executive Glenn Tilton was named chairman of the new airline while Continental chief executive Jeff Smisek kept the CEO and president title. Tilton stepped down as chairman at the end of 2012.-Andrea Ahles