Newsletter Subscription


Sunday, Dec 4, 2016


American Airlines, US Airways merger approved

A US bankruptcy court judge approved Wednesday the merger of American Airlines and US Airways, which will create the country's largest airline, the two companies said.

But the judge left undecided the $19.9 million payout planned for AMR chief executive Tom Horton, who will lose his job in the merger.


Related Research on ASDReports.com:
Global In-flight Entertainment Market 2016-2020

"Judge Lane's approval of the merger agreement today allows us to continue progressing forward with our planned merger and we are gratified to know that he considers the merger an 'excellent result' for stakeholders," American and US Airways said in a joint statement.

"The court approved the merger agreement but deferred ruling on Mr. Horton's compensation arrangement."

Some American Airlines creditors have reportedly raised objections to Horton's payout, as the company emerges from bankruptcy restructuring and goes ahead with the merger.

The combined airline, to keep the American Airlines name, is to be led by current US Airways chief executive Doug Parker.

US Airways shares were up 2.8 percent to $17.12 in after hours trade following the news.

© 2013 AFP

Source : AFP

Published on ASDNews: Mar 28, 2013

 

Operating Lease Seminar 2017

Mar 20 - 22, 2017 - Barcelona, Spain

Register More info


Aircraft Asset Management Seminar 2017

Feb 13 - 14, 2017 - Hong Kong, Hong Kong

Register More info


© 2004-2016 • ASDNews • be the first to know • contact usterms & conditionsprivacy policyadvertisingfaqs

zpsk