A federal judge is approving American Airlines’ plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger.
American Airlines and US Airways said late Tuesday that the government’s opposition to their planned merger shows that it does not understand the airline industry.
American Airlines said that its July profit doubled to $292 million as it benefited from a busy summer travel season and cost-cutting from its bankruptcy reorganization.
A judge asked American Airlines’ lawyers to explain why he should approve the company’s plan to merge with US Airways and exit bankruptcy protection while the merger is being challenged by the federal government.
Detroit has become the largest city in U.S. history to file for bankruptcy.
The parent of American Airlines is reporting a $220 million profit for the second quarter as its cost-cutting from its bankruptcy reorganization kicked in.
There has been a shake-up for the management team at American Airlines. The changes were announced on Monday morning, and are set to start once the company merges with US Airways.
Battery-maker Exide Technologies, who has pledged to clean up a former battery recycling plant in Frisco, is seeking Chapter 11 bankruptcy protection.
The Teamsters union is trying to replace the union that represents mechanics at American Airlines.
American Airlines and US Airways will soon announce the senior executives of their combined company. The airlines said that an announcement could come in late May or early June.
The president of the AFL-CIO is concerned that the merger of American Airlines and US Airways will trigger a costly fight between two unions over ground workers.
Twinkies will be winging their way back to a store near you, likely in July. Hostess Brands, LLC has announced plans to re-launch its bakery in Columbus and plans to add about 300 jobs in the area over the next several years.