Daily News: December 2, 2013

Reuters: Court Approves U.S. Justice/AMR/US Airways Settlement

Reuters reported a judge approved a settlement resolving U.S. regulators’ opposition to a merger between AMR and US Airways Group, allowing AMR, American Airlines’ bankrupt parent, to move forward to create the world’s largest carrier.

Reuters said Judge Sean Lane called the settlement “fair and equitable” and in the “best interest” of AMR’s creditors in bankruptcy, during a hearing in U.S. Bankruptcy Court in Manhattan.

AMR seeks to close on the deal by December 9, although a group of consumers opposing the merger could delay matters if they appeal Lane’s approval, Reuters added.

Previously on abfjournal: WSJ: AMR, US Airways Reach Settlement on Merger, November 13, 2013

To read the entire Reuters article, click here.