United Airlines scrapped its latest attempt to combine with US Airways and create the world’s largest carrier, formally backing away Friday from a deal that likely would have meant fewer routes and higher ticket prices for consumers.

The CEOs of the two airlines told their employees in separate messages that a combination was off “for now,” although US Airways’ Doug Parker indicated it is unlikely for at least the rest of this year. They had spent months exploring a deal that would have enabled the carriers to shed costs.