US Airways CEO Doug Parker will receive an estimated $19.5 million in merger-related pay for taking over as chief executive of the merged US Airways and American Airlines, the companies said Monday.

The merger between US Air and American parent AMR Corp , which still requires regulatory approval, would create the world's largest airline, with more than 6,700 daily flights to 336 destinations and 100,000 employees.

(Reporting by Alwyn Scott; Editing by Gary Hill)