VIDEO: American Airlines CEO Talks Merger on CBS THIS MORNING

American Airlines CEO Doug Parker and US Airways CEO Tom Horton said in an interview with CBS THIS MORNING that the merger of the two airlines will greatly improve service for customers. Check out the appearance below!

"This is really the logical next step to return American back to industry leadership. We'll be the #1 airline in the world, and create really a truly world-class global carrier with our partners at US Airways," Horton told Norah O'Donnell, Gayle King and JAmes Brown, in an interview that was broadcast live today, Feb. 13, on CBS THIS MORNING (7:00-9:00 AM) on the CBS Television Network.

Parker and Horton the US Airways brand would be retired. Parker said that once the deal closes, he will serve as CEO and Horton will serve as Chairman of the new American Airlines.

Below are excerpts from the interview:

O'DONNELL: The big news today the merger of American Airlines and U.S. Airways. With us now, in their first network morning interview, U.S. Airways CEO Doug Parker and American Airlines CEO Tom Horton. Good morning to both of you. You're merging on this Valentine's Day, but let me ask you first, Doug. A lot of people say, "is this going mean higher prices for me when I want to travel?"

PARKER: Yeah, and the answer is no. Fortunately we have two airlines that are highly complementary, not very much overlap at all. But we'll combine to create an airline that can compete against those airlines that happen to be larger than us right now, United and Delta, and create an airline that can compete strongly against us. So this is more competition, not less.

VIDEO: American Airlines CEO Talks Merger on CBS THIS MORNING