AMR Judge Says Exit Plan Arguments ‘Persuasive’
AMR’s arguments in favor of approving its plan to exit bankruptcy through a US Airways Group merger are “fairly persuasive,” a judge said, as the deal stalled in a U.S. antitrust lawsuit, Bloomberg reported. U.S. Bankruptcy Judge Sean Lane deferred a ruling on approval of the plan at a hearing in Manhattan, Bloomberg said.
AMR, the parent company of American Airlines, said last week in a court filing that waiting to resolve the government’s antitrust case would be “destabilizing,” Bloomberg previously reported. The two sides are set to go before U.S. District Judge Colleen Kollar-Kotelly in Washington to argue over a schedule, with AMR and US Airways are seeking a November trial date and the government proposing waiting until March.
To read the entire Bloomber story, click here.
Previously on abfjournal: AMR May Target JetBlue for Takeover, August 28, 2013