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February 21, 2013

Bankruptcy court hearing for merger between American and US Airways set for March 27

U.S. bankruptcy judge Sean Lane has scheduled a hearing on March 27 to consider the proposed merger between American Airlines and US Airways.

The judge has also set a deadline of March 15 for parties to respond or object to the motion that would approve the merger.

At the hearing, the judge will consider "authorizing and approving 1. merger agreement among AMR Corporation, AMR Merger Sub, Inc., and US Airways Group, Inc. 2. Debtors' Execution of and Performance Under Merger Agreement 3. Certain Employee Compensation and Benefit Arrangements 4. Termination Fees and 5. Related Relief."

The employee compensation likely refers to AMR chief executive Tom Horton's $20 million cash and stock compensation package.

-Andrea Ahles

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