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03/27/2013 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
New York – A bankruptcy judge has approved a merger between American Airlines and US Airways. As reported by the Associated Press (AP), Judge Sean H. Lane issued the decision on Wednesday touting the merger as an “excellent result.”
The merger will reportedly create the largest airline in the world, with 6,700 daily flights and an estimated $40 billion in revenue.
Lane is quoted by the AP as stating prior to issuing his ruling, “The merger is an excellent result. I don’t think anybody disputes that.”
A request to approve a $20 million severance package for the outgoing CEO of American was declined.
The merger will require additional approval by antitrust regulators and others, but is expected to close by fall.
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