American/US Airways merger gets first stamp of approval
The merger of American Airlines and US Airways has moved one step closer after it was approved by a US judge.
The deal had to be approved by a judge at this stage because American Airlines’ parent AMR has been in bankruptcy protection since November 2011.
The merger still requires approval by the US Justice Department and US Airways shareholders.
The two airlines announced the plan to merge last month. The merger will create the world’s largest airline.
Just over 70% of the new company will be owned by American Airline’s bankruptcy creditors and the rest by US Airways shareholders.
The merged carrier will keep the American Airlines name but will be run by US Airways CEO Doug Parker.
American’s CEO, Tom Horton, will become chairman of the new company.
It will be based in Fort Worth, Texas.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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