A day after US Airways and American Airlines agreed to merge into what will become the world's largest airline, CNBC's Jim Cramer said Wednesday that US Airways shares could double.
"And don't forget, these companies just got much more lucrative for the first time ever," Cramer said on "Squawk on the Street." "It will cost you more to fly. Obviously, they will refute that."
US Airways CEO Doug Parker is one of his favorite executives, Cramer said, adding that with the deal, four carriers will dominate the industry.
"You want some bold predictions?" he asked. "The ... deal is so unbelievably great for US Air that I believe this stock could catapult. ... The stock could double."
(Read more: Cramer's natural winners )
US Airways Group and American Airlines made the merger announcement Tuesday after settling a lawsuit with the Department of Justice, which sought to block the union on concerns it would drive up fares and hinder competition.
As of early Wednesday afternoon, US Airways shares hovered between $23.13 and $24.30. The merger was part of American's effort to end a two-year bankruptcy process.
-By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street." Reuters contributed to this report.
More From CNBC
- Yellen: Need to do more to support the recovery
- You may need to prepare for higher gasoline prices
- Megastorms' awful truth: Preparation has limits
- Professional Services
- Mergers, Acquisitions & Takeovers
- Jim Cramer
- American Airlines
- US Airways