American Airlines Group Inc (AAL)

[money4nuthin]

Just a bit of news I came across and thought I would share.


The proposed American and US Airways merger continues to gain momentum as the Bankruptcy Court approves our merger agreement
On Wednesday, Bankruptcy Court Judge Sean Lane approved the merger agreement between American and US Airways that was announced on Feb. 14, noting that the merger is an “excellent result” for stakeholders. An exciting step forward in the evolution of the new American, today’s approval allows us to continue progressing with our planned merger.

The Court approved the merger agreement but deferred ruling on Mr. Horton’s compensation arrangement. Additionally, as a result of the evidence presented in yesterday’s hearing, the U.S. Trustee withdrew its other objections to the merger agreement.
Also in the hearing, the Court approved American’s final exclusivity extension request, which gives AMR until May 29 to file its Plan of Reorganization.
We’re pleased to have received these approvals and share this news with you, and look forward to receiving Judge Lane’s written ruling.