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May 10, 2013

Judge officially approves American-US Airways merger

The signed court document from U.S. bankruptcy judge Sean Lane that approves the American Airlines-US Airways merger was filed on Friday.

The court order finalizes Lane's ruling at a March 27 hearing to approve the merger agreement with the exception of American chief executive Tom Horton's $20 million pay package.

"Notwithstanding anything to the contrary in this Order, for the reasons stated by the Court in the Decision, the American CEO Letter Agreement is not approved; however, this Order is without prejudice to the consideration and approval of the American CEO Letter Agreement or any of the other matters provided for therein at a later date, subject to the rights of all parties in interest to object thereto," the document said.

The merger still needs to be approved by government regulators and US Airways shareholders. The carriers expect to close the deal sometime this fall.

-Andrea Ahles

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Comments

Juan

MONEY ALWAYS TALKS

whitey

yea. that sob of a judge is crooked. but don,t worry he will be caught sooner or later!

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