After nearly two years, American Airlines has just been cleared for takeoff from bankruptcy, and can now merge with US Airways. The deal is set to be closed on December 9.
After a two-hour hearing on Monday, a federal bankruptcy court judge said he needs more time to decide whether to approve American Airlines bankruptcy plan.
Four members of Congress say that all airlines — not just low-fare carriers — should be able to bid on gates and landing rights that Fort Worth-based American Airlines and US Airways will give up after their merger.
Rival unions are fighting over how to represent 24,000 flight attendants at the new American Airlines, which expects a merger with US Airways to happen next month.
The airline to be formed by the merger of American Airlines and US Airways said Friday that it will use the ticker symbol “AAL” and trade on the Nasdaq Stock Market.
After months of legal turbulence, it will soon be smooth flying for American Airlines and US Airways.
The U.S. Justice Department has settled its lawsuit, clearing the way for the airlines’ $14 billion merger.
Attorney General Eric Holder says American Airlines and US Airways must make broad concessions if they want to settle a lawsuit blocking their proposed merger.
People familiar with the discussions say American Airlines and US Airways will propose giving up some takeoff and landing rights at Washington’s Reagan National Airport in hopes of settling a government lawsuit blocking their merger.
The CEO of Southwest Airlines Co. assumes that American and US Airways will eventually merge, and he wants some of their takeoff and landing rights at Reagan National Airport outside Washington.
Higher taxes reduced US Airways’ third-quarter profit, but the airline still beat Wall Street expectations on a combination of more traffic and higher average fares.
US Airways said Wednesday that third-quarter net income was $216 million, or $1.04 per share. That’s down 12 percent from $245 million, or $1.24 per share, a year ago.
American Airlines parent company AMR said that it earned $289 million in the third quarter. That marks a big turnaround from a loss of $238 million a year earlier.