Merger between American Airlines and US Airways

American Airlines and US Airways agreed to merge Wednesday creating one of the largest carriers in the United States, news sources reported.

The new merger will be officially announced Thursday morning, Huffington Post reported.

The merger between this company will take the name of American Airlines, New York Times reported.

The merger between American Airlines and US Airways will become one of top four airlines in the United States. American Airlines and US Airways will be competing with United, Delta and Southwest. These four airlines would control more than 70 percent of the market, New York Times reported.

When combined the company will be worth $11 billion, Huffington Post reported.

Before the merger can become official America's bankruptcy judge in New York, US Airways shareholders and the Justice Department's antitrust division must approve of this new deal, New York Times reported.