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AMR wants merger okayed
NEW YORK - AMR, the parent of American Airlines, asked the judge overseeing its bankruptcy case to approve its $11 billion merger with US Airways Group to create the world’s largest carrier.
US Bankruptcy Judge Sean Lane in Manhattan is scheduled on March 27 to consider approving the agreement filed on Friday. The merger will take effect through a bankruptcy plan that hasn’t been proposed yet.
“The combination of the two airlines will result in superior value for all stakeholders,” American said in its filing.
American and US Airways announced the merger the previous week. US Airways began its pursuit of a deal in January 2012, less than two months after AMR filed for bankruptcy.
The agreement can be terminated by either company if the merger hasn’t been consummated by October 14, which can be extended until December 13.
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