Deal reached on mega merger between US Airways and American Airlines

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A merger between US Airways and American Airlines has moved a step nearer after gaining the approval of the US Justice department. The prospect of creating the world’s largest airline had drawn criticism from the government and six states who joined a law suit to block the merger, saying that it would restrict competition and put up prices. However Tuesday’s settlement requires the new airline to give up take-off and landing rights to low-cost carriers at major US airports. Analysts claim the new company will change the landscape of the US airline industry. US Airways eight-billion-euro acquisition of American – which has just emerged from bankruptcy – has been on the cards since Delta, Northwest and Continental became one. This latest merger is expected to be completed in December.