DALLAS (CBSMiami) – The long-awaited merger between American Airlines and US Airways Group has finally been approved by the boards of the two air carriers.

The $11 billion all-stock merger deal creates the world’s largest air carrier, according to a joint announcement from the airlines in an article from the News Service of Florida.

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Miami International Airport is home to American Airlines’ second-largest hub.

Fitch Ratings released a report Wednesday that said Miami, which is a gateway to Latin America for many carriers, could remain a “solid franchise” under the merger with its operational performance remaining intact.

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US Airways confirmed the news at 6:45 am on Thursday on its Twitter account saying, “We are proud to announce @AmericanAir & @USAirways are coming together to create the new American.”

Read about the terms of the agreement in the full article.

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