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American Airlines aircraft sit on the tarmac at Miami International Airport last week.
Joe Raedle/Getty Images
American Airlines aircraft sit on the tarmac at Miami International Airport last week.
Joe Raedle/Getty Images
A U.S. bankruptcy judge on Thursday has indicated that he’s leaning in favor of a allowing American Airlines to emerge from bankruptcy, clearing a major obstacle to the carrier’s planned merger with US Airways.
Judge Sean H. Lane said he is “finding the arguments in favor of confirmation fairly persuasive” to allow American, which filed for Chapter 11 in Nov. 2011, to emerge from bankruptcy.
Lane reportedly could sign off on a restructuring plan for AMR Corp., American’s parent, on Sept. 12, according to The Associated Press.
AP says:
“Such a decision would only leave one obstacle — although a big one — to American’s proposed merger with US Airways. That would be an antitrust lawsuit filed by the government earlier this month.”
We reported about that anti-trust lawsuit, filed by the Department of Justice, earlier this month.
Article source: http://www.npr.org/blogs/thetwo-way/2013/08/29/216857041/judge-hints-at-clearing-american-to-emerge-from-bankruptcy?ft=1&f=1001