Aviation News

November 27, 2013

Judge Approves AMR Exit from Bankruptcy

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Written by: NYCAviation Staff
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(NYCAviation file photo)

Federal Bankruptcy Judge Sean Lane Wednesday approved the settlement in the US Government antitrust lawsuit against American Airlines and US Airways. The approved settlement clears the path for completion of the merger.  Judge Lane ruled that the settlement did not impede on American Airlines bankruptcy reorganization plan which was conditionally approved in September by his court. Additionally, Judge Lane ruled that the settlement did not require a re-vote on the merger by shareholders for the merging carriers.

Image courtesy DearEdward via Flickr Creative Commons

Image courtesy DearEdward via Flickr Creative Commons

Additionally, the judge denied a request by the attorneys in a second, private antitrust suit for a temporary restraining order. In his order on that motion, the judge stated that the plaintiffs had not demonstrated that they would be caused any harm by the merger’s completion. That lawsuit was filed by attorney Joseph Alioto in early July. Alioto has filed similar lawsuits opposing the mergers of Delta/Northwest, United/Continental, and Southwest/AirTran.

American and US Airways are aiming to close their merger on December 9 which will create the world’s largest airline. Full integration is expected to take at least 2 years from the date the merger closes. Trading of shares in both AMR (AAMRQ) and US Airways (LCC) are expected to be suspended following the close of the markets on Friday December 6th, And the merger is expected to close before the opening bell on Monday December 9th. The merged carriers will become subsidiaries of the new American Airlines Group, trading under the symbol AAL.

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