American Airlines and US Airways have agreed to a tentative agreement that would create the world's largest airline, according to Bloomberg.
Bloomberg cited an unnamed source who said the American Airlines' board was voting on the merger. If both boards accept the merger, an announcement could be made Thursday.
Details of the proposal weren’t immediately released.
The source told Bloomberg US Airways chief executive officer Doug Parker would become CEO of the new airline and American Airlines CEO Tom Horton would become a non-executive chairman.
Bloomberg reported the new airline would keep American Airlines' name and its headquarters in Fort Worth, Texas.
"They'll be treating us better. Better pay, better benefits and everything," said Ruben Costello, who works for American Airlines.
Spokespeople for both airlines declined comment.