Airline merger approved by bankruptcy judge

The proposed merger of US Airways and American Airlines was approved by a federal bankruptcy judge this week. This paves the way for the two airlines to merge together to form the world’s largest airline. The $11 billion deal also included an almost $20 million severance package for the CEO of AMR, the parent company of American. The judge declined to approve the severance package for Thomas Horton who will step down next year. However, even though the judge did not approve the severance package, the proposal can be revised when AMR files its bankruptcy plan.

For more details read, “Bankruptcy judge OKs American-US Airways merger.

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