American Airlines stock fell 3% premarket after it rejected talks of a potential megamerger with United Airlines. The airline issued a statement stating that a merger with United would be negative for competition and for consumers. The merger, which would create the world's largest airline, has faced regulatory scrutiny and concerns that it could create a market monopoly. United CEO Scott Kirby had previously suggested a merger could help the company compete on U.S. outbound flights. However, critics argue that the merger would result in the elimination of some of the largest infrastructure in the country.