Reuters: AMR Bankruptcy Plan Wins Court Approval
Reuters reported a U.S. bankruptcy judge granted AMR approval to emerge from bankruptcy, but implementation requires resolution of the U.S. government’s attempt to block its proposed merger with US Airways Group.
Judge Sean Lane approved the plan in U.S. Bankruptcy Court in New York, but denied a clause that would pay Tom Horton, AMR’s outgoing chief executive, $19.9 million in severance, Reuters said.
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Previously on abfjournal: Michigan Joins Lawsuit to Block Airline Merger, Says Star-Telegram, September 6, 2013