The US Bankruptcy Court for the Southern District of New York has approved the settlement of the lawsuit reached with the US Department of Justice and certain states relating to the merger of Texas-based airline operator AMR Corp (OTC: AAMRQ) and Arizona-based US Airways Group Inc (NYSE: LCC).
According to the airlines, the court also ruled that the merger may be consummated despite the pendency of a private antitrust lawsuit.
As a result of the Court´s rulings, AMR the parent company of American Airlines, Inc filed with the US Bankruptcy Court for the Southern District of New York a notice that the proposed effective date of the plan of reorganisation will be Dec. 9, 2013.
Consummation of AMR´s Plan of Reorganization and the merger of US Airways Group, Inc. with and into a subsidiary of AMR Corp. is planned to be completed prior to the securities markets opening on Dec. 9, 2013.
Assuming this expected schedule, the last day of trading of all outstanding securities of AMR, including the common stock trading under the symbol “AAMRQ,” and the common stock of US Airways Group Inc (NYSE: LCC) will be Dec. 6, 2013.
Upon the anticipated closing of the merger on Dec. 9, 2013, AMR Corp. will be renamed American Airlines Group Inc., with its common stock to be listed and traded on the NASDAQ Global Select Market under the symbol “AAL” and its preferred stock to be listed and traded on the NASDAQ Global Select Market under the symbol “AALCP.”
American Airlines´ fleet of nearly 900 aircraft fly more than 3,500 daily flights worldwide from hubs in Chicago, Dallas/Fort Worth, Los Angeles, Miami and New York.
US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,100 flights per day and serves 198 communities in the US, Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America.
Find out more at www.usairways.com.