The European Commission (EU) is set to stamp its approval on the US$1 billion merger between AMR Corp's American Airlines and US Airways, two sources with knowledge on the deal said Monday. The decision followed the two companies' earlier agreement to surrender slots at Philadelphia and Heathrow airports.
Arizona-based US Airways Group Inc. is an airline holding company with subsidiaries such as PSA Airlines Inc. and Piedmont Airlines Inc. Meanwhile, Font Worth, Texas-based American Airlines is currently operated by AMR Corporation and was founded in 1930.
The airline carriers signed the agreement earlier this month as a concession to the EU to resolve competition concerns over the merger which will produce the world's largest airline to date.
"The deal is set to be approved," one of the sources stated.
The European Commission is set to finalize its decision on the deal by August 6, 2013. The tie-up is the fourth on the list of deals involving major American carriers over the previous six years.
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