VENTURE CAPITAL POST

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.

A US judge had granted the request of American Airlines and US Airways for an earlier trial against the US Justice Department that intends to block the two companies' planned USD11 billion deal.

US District Judge Colleen Kollar-Kotelly said she wanted the trial against American Airlines and US Airways to be held before the US Justice Department's proposed March 3 date.

American Airlines said that the scheduled March trial for antitrust issues would put its planned merger with US Airways Group at risk.

U.S. Justice Department asked a federal court to set trial date on March 3 to hear arguments on whether it should halt a planned merger between US Airways and American Airlines.

American Airlines and US Airways Group had sought for a trial that would rescheduled an anti-trust lawsuit filed against the proposed merger of the two airline companies.

US anti-trust regulators filed a lawsuit against US Airways and American Airlines' USD11 billion merger saying that the deal would only result to higher air fares, service reduction and a strangled competition in the industry.

The American Airlines and US Airways US$1 billion merger is set to be finalized before the end of August 2013.

American Airlines and US Airways gave concessions to EU antitrust regulators to get their authorization over a planned merger.

Shareholders for US Airways approved the merger for American Airlines

US Airways and American Airlines took a step closer to merger.

The US Justice Department investigated the planned merger of American Airlines and US Airways, a deal which is expected to be completed by end of September.

Five board members of the new airline formed from the merger US Airways Group, AMR Corp and American Airlines come from investment firms.