US Airways Group Inc., spurned in three prior merger attempts, will combine with bankrupt AMR Corp.’s American Airlines in an $11 billion all-stock deal to create the world’s largest carrier.

Chief Executive Officer Doug Parker of US Airways will run the new airline, which will retain American’s name, as AMR CEO Tom Horton becomes chairman, the companies said today in a statement. AMR creditors will own 72 percent of the stock, while 28 percent will go to US Airways shareholders.

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