« American made $259 million in June | Main | Republic starts flying Embraer jets with American Eagle livery »

August 01, 2013

AMR creditors and shareholders vote overwhelming in favor of merger with US Airways

AMR Corp. said its creditors and shareholders voted overwhelming to approve the Fort Worth-based carrier's restructuring plan which includes merging with US Airways.

In the vote results released Thursday morning, AMR said at least 88 percent of the creditor ballots in each creditor class received voted in favor of AMR's plan to exit bankruptcy. The parent company of American Airlines said more than 99 percent of the shares of AMR's stockholders voted to accept the plan as well.

"This is another important milestone toward our launch of the new American. The overwhelming support for our Plan of Reorganization is a testament to the resilience and hard work of the entire American team," said AMR chief executive Tom Horton.

The bankruptcy court is holding a hearing on August 15 to confirm or reject the restructuring plan. AMR said it expects to emerge from Chapter 11 bankruptcy protection at the same time it closes its merger with US Airways.

The merger is pending government approval and both carriers expect the deal to close in the third quarter.

-Andrea Ahles

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c2cc953ef01910484bb0d970c

Listed below are links to weblogs that reference AMR creditors and shareholders vote overwhelming in favor of merger with US Airways:

Comments

Kate

Great. So now let's get this show on the road.

CeoCrookWannaBe

If you are an employee of any tenure then you would not post such a moronic comment. In fact, the so called "Show", has been playing since 2003.

whitey

yes kate. and lets also get rid of the rest of the scum at hdq and the rest of the old aa management.

Post a comment

Comments are moderated, and will not appear on this weblog until the author has approved them.

If you have a TypeKey or TypePad account, please Sign In.