United, US Air close to merger: Source

American and Continental may also be preparing announcement in the wake of the Delta-NWA merger.

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Last Updated: April 28, 2008: 2:59 PM EDT

Airline merger dance

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(CNN) -- United Airlines and US Airways (LCC, Fortune 500) are in very advanced talks towards a merger and an announcement is expected within two weeks, according to a source familiar with the negotiations.

Also, American Airlines (AMR, Fortune 500) and Continental Airlines are in meaningful and progressing talks towards an alliance, the same source said.

The source has asked not be named because the source has not been authorized by the airlines to discuss the talks.

The news of two possible deals comes two weeks after Delta Air Lines (DAL, Fortune 500) and Northwest Airlines (NWA, Fortune 500) reached agreement on a merger deal that - if approved - would create the world's largest airline.

On Sunday, Continental Airlines (CAL, Fortune 500) executives said they had been in possible merger talks with United Airlines (UAUA, Fortune 500) but decided not to make a deal with the airline.

First Published: April 28, 2008: 2:57 PM EDT

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