Parker's halting response came when he was asked about reports questioning Horton's initial negative reaction to a merger that Wall Street analysts generally agree is both desirable and inevitable. US Airways, the country's fourth-largest airline, wants to merge with American, the third largest airline, to better compete with the top two giants, United and Delta. But Horton has argued that American should emerge from its bankruptcy filing as a stand alone company. Recently, the airline said it would study various merger possibilities. A recent "Dealbook" column in The New York Times said American executives may be resisting a speedy, slam-dunk deal with US Airways for a good reason: "a giant payday. Mr. Horton and his management team stand to receive somewhere between $300 million and $600 million if he can make it through bankruptcy court without merging first with a rival like US Airways." US Airways says its proposal is the right fit, and would work well only under the protection of a bankruptcy court.