US Airways

(UAIRQ)

and

America West

(AWA)

are getting closer to announcing a merger, and the carriers may do so at some point this week, according to published reports over the weekend.

The New York Times

gave the possible merger a value of about $1 billion, the terms of which would include about $500 million in new capital. The

Times

quoted people who had knowledge of the talks. In April, the companies announced that they had held merger talks.

The newspaper also said it was told that discussions could be completed by the end of the week, leading to the creation of what would be the sixth-biggest airline in the U.S.

According to the

Times

, the talks regarding the capital infusion could include Air Wisconsin and the Retirement System of Alabama, while the remaining participants had not been fully determined.

Separately,

The Wall Street Journal

said US Air and America West are in talks to raise up to $400 million. The

Journal

also cited people who are familiar with the negotiations. The airlines are near a $250 million loan from

Airbus

in return for ordering about 20 of the company's planes, the paper reported.

The

Journal

reported that

Air Canada

and two hedge funds have been involved in the discussions. Additionally,

General Electric

(GE) - Get Report

, which the

Journal

named as the largest creditor to both airlines, is working out its own financing arrangement with the carriers, the paper said, again citing individuals who have knowledge of the talks.