The boards of American Airlines’ parent company, which is in bankruptcy, and US Airways Group Inc. (NYSE:LCC) said Thursday they approved a plan to combine into one company, forming an $11 billion airline that will be the largest in the world.

The all-stock deal calls for stakeholders of the bankrupt Fort Worth, Texas-based AMR Corporation, which owns American Airlines, to hold a 72 percent stake in the new carrier, while shareholders of the Phoenix-based US Airways will hold the remaining shares.

The combined airline will offer more than 6,700 daily flights to 336 destinations in 56 countries.

Doug Parker, CEO of US Airways, will become CEO of the newly reconstituted American Airlines, while that carrier’s current CEO, Tim Horton, will serve as chairman through to the company’s first annual meeting.

“A sizable portion” of unsecured creditors, which had been holdouts on a reorganization plan that entailed combining the two companies, offered support for the plan, which must be approved by the bankruptcy court.

The announcement on Thursday followed Tuesday’s meeting in New York by the board of AMR, which filed for creditor protection in 2011.

The stated equity split implies a value for value for AMR of $7.5 billion to $8 billion and a value of $3 billion for US Airways, which has a current market capitalization of $2.35 billion.

The combined entity -- to be called American Airlines -- would employ an estimated 94,000 people, fly approximately 950 planes and run some 6,500 daily flights.

The new carrier would be a market leader in the U.S. Southwest and East Coast and in South America. United and Delta would remain stronger in Europe and the Pacific.

Based on 2012 figures, the combined airline, to be called American Airlines, would have $38.69 billion in revenue.

Its prospective market capitalization is estimated at nearly $11 billion, larger than United Continental Inc.’s (NYSE:UAL) $8.7 billion market capitalization and smaller than the $12.4 billion market capitalization of Delta Air Lines, Inc. (NYSE:DAL).

Based on number of employees, American is more than twice the size of US Airways.

American Airlines At A Glance

At the end of last year American had 77,750 employees.

Including the planes of its short-haul subsidiary, American Eagle, it has 827 aircraft.

American flies to approximately 260 destinations in some 50 countries.

It has more than 3,500 daily departures.

Last year it flew 108 million passengers.

US Airways At A Glance

At the end of last year it had 32,213 employees.

Including the planes of its short-haul subsidiary, US Airways Express, it has 631 aircraft.

US Airways flies to 198 destinations in 28 countries or territories.

It has 3,028 daily departures.

Last year it flew 82.5 million passengers.