American Airlines, US Airways near merger agreement

American Airlines parent AMR Corp. and US Airways Group Inc. are finalizing the details of a merger agreement that would create the world's largest airline, The Wall Street Journal reported.

If the deal is reached, the new company could have a market capitalization of more than $10 billion and would move ahead of United Continental Holdings Inc. as the biggest U.S. airline by traffic. The all-stock deal would be executed as a reorganization plan that takes American out of of Chapter 11 bankruptcy…