New American CEO to get $19.5 million if he loses job in merger

US Airways CEO Doug Parker will receive an estimated $19.5 million in pay if he loses his job during the merger of US Air 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.

(The story corrects headline and paragraph one to show the $19.5 million would be paid only if Parker loses his job.)

(Reporting by Alwyn Scott; Editing by Gary Hill)