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American Airlines and U-S Airways are expected to meet separately Wednesday to discuss the possible merger.
The Wall Street Journal reports the companies reportedly want to finish a deal before Friday. That's when non-discloure agreements that some American Airlines bondholders signed are set to expire and could mess with confidentiality agreements.
The newspaper reports there are still some things to iron out, but the major details have already been hammered out. If and when those details are finalized, executives from the two companies believe, between cost savings and more business, they could rake in around a billion dollars in revenue annually.
According to the latest reports, the new entity will fly under the American Airlines name but U.S. Airways CEO Doug Parker would lead the company. Passengers could start seeing the U.S. Airways logo disappear within a few months.
WBTV is still working to determine what a merger means for Charlotte. U.S. Airways has its largest hub at Charlotte Douglas International Airport.
If the two companies merge, it would be the world's largest airline.
