Airlines Extend Merger Agreement
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FORT WORTH (CBSDFW.COM) - American Airlines and US Airways on Monday morning agreed to extend their merger agreement, pushing back the date that either carrier could terminate their merger plan. The previous date had been December 17. That has now been delayed to January 18.
The move comes during a lawsuit from the U.S. Department of Justice, challenging the proposed merger. If a court order favoring the plan is issued prior to the new date, then the deadline is 15 days after the ruling. If the court rules against the merger plan, then the deadline is five days later.
That trial is set to begin on November 25.
American Airlines CEO Tom Horton and US Airways CEO Doug Parker issued a joint statement, saying, “The Boards and management teams of AMR and US Airways remain committed to completing this combination to create the new American, and the extension of this outside date is a reflection of this commitment. Our focus is on mounting a vigorous defense and winning our court case so the new American can enhance competition, provide better service to our customers and create more opportunities for our employees.”
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