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August 23, 2013

American say merger plan should be confirmed, despite anti-trust lawsuit

American Airlines' parent company, AMR Corp., told a bankruptcy judge that its reorganization plan should be confirmed even though the Justice Department has filed an anti-trust lawsuit to stop its proposed merger with US Airways.

In a filing made on Friday afternoon, American said the plan should be confirmed because it clearly lays out a timetable to creditors on what would happen if regulatory approval of the merger was delayed. And if a settlement can't be reached with the DOJ or if the carriers don't win the lawsuit, the confirmed plan would be vacated.

"All parties involved are well aware that if a satisfactory resolution of the DOJ Action is not obtained, the Merger will not be consummated and the Plan will be withdrawn," the filing said.

Click here to read the full filing.

-Andrea Ahles

 

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