According to a report by the South China Morning Post, the approved merger of American Airlines and US Airways to form the largest airline by revenues in the world is not good news for passengers.
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Bankruptcy judge Sean Lane dismissed a private effort to block the merger between US Airways and AMR Corp and gave the clearance to allow the transaction to proceed.
A settlement was reached between representatives of both American Airlines and US Airways Group and the US Department of Justice would pave the way to the approval of the merger.
Southwest Airlines and JetBlue Airways articulated its interest in acquiring AMR-US Airway flight slots in Washington.
US Attorney General Eric Holder said his comments that confirmed talks of a settlement between American Airlines and the US Airways regarding the airline's planned merger.
US antitrust regulators would like American Airlines and the US Airways Group to agree to concessions before giving their stamp of approval for the merger.
A billion dollar merger has been settled between US Airways Group and American Airlines
The state of Texas had dropped out of the lawsuit filed by the US Justice Department to block the US Airways-American Airlines merger, according to a Reuters report.
AMR and US Airways indicate new deadlines on their eventual decision on the merger as the lawsuit had affected the businesses.
American Airlines and US Airways Group Inc. had came to an agreement that the USD14 billion merger should be completed before the new deadline, which is on January 18 next year.
The unions working for AMR Corp, the parent of American Airlines, and US Airways conducted a forwarded their displeasure on the suit filed by the antitrust division of the Justice Department.
US Bankruptcy Judge Sean Lane approved American Airlines' petition to exit bankruptcy today at a court hearing held in Manhattan.
Because of the uncertainty as to the result of the case filed in court, the deadline of the merger between the two airlines was sought to be extended.
Michigan had joined six other states in a lawsuit to block the proposed merger of US Airways and American Airways to create the world's largest airline company.
T. Rowe Price banned some American Airline employees from trading the funds in their 401k plans because of collective trading.
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