American, US Airways see merger closing on Dec. 9

November 28, 2013 | 09:02

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American Airlines parent AMR expects to emerge from bankruptcy and complete its merger with US Airways on December 9, the companies said on Wednesday.

File photo of a US Airways tail resting on the tarmac near two American Airlines planes at Ronald Reagan Washington National Airport in Arlington, Virginia. (AFP/Jim Watson)

NEW YORK: American Airlines parent AMR expects to emerge from bankruptcy and complete its merger with US Airways on December 9, the companies said on Wednesday.

The two companies, which are merging to become the "American Airlines Group," said a US bankruptcy court Wednesday approved the merger of the two US airlines.

The companies will cease trading under their respective tickers after Friday, December 6. Common shares for American Airlines will trade under the "AAL" ticker on Nasdaq starting the following Monday.

Momentum behind the plan to create a third US air giant to compete with Delta Air Lines and United Continental Holdings picked up considerably after the Justice Department on November 12 announced a settlement to resolve an antitrust complaint that had sought to block the AMR-US Airways merger.

Under the agreement, AMR and US Airways agreed to give up slots and other rights at seven key airports.

AFP

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