A merger between American Airlines and US Airways to create the world’s largest carrier could be announced as soon as next week.

The two airlines have been discussing a potential deal for months and US media outlets are reporting that the board of American’s parent company AMR will meet on Monday to consider a possible merger.

The combined carrier is expected to retain the American Airlines name and be based in Fort Worth in Texas.

A combination of the two airlines would create the world’s largest airline, with a combined $38.7 billion in revenue and a workforce of more than 100,000.

American would be 2.3% larger than rival United Airlines by capacity, and 2.2% in terms of traffic.

American creditors would own roughly 72% of the airline and US Airways shareholders about 28%, the Wall Street Journal reported.

US Airways chief executive Doug Parker is likely to take over as chief executive after the merger with his AMR counterpart Tom Horton expected to fill the role of chairman.

American filed for Chapter 11 bankruptcy in November 2011 and faces a decision to either merge or climb out of bankruptcy while remaining as an independent airline.

Nothing has been decided and no actual deal is in place, a source told ABC News. Both airlines have declined to comment on reports that a merger is imminent.