The companies will remain competitors until the deal is officially closed, which US Airways CEO Doug Parker said should be in the third quarter of this year. Parker will take over as CEO of the new American Airlines. Full integration of the two companies into a new airline could take a year or more. Many of the details of the merger were already known. US Airways shareholders will own about 30 percent of the new company, the bankrupt American's creditors will get about 70 percent.