The Justice Department’s antitrust division must sign off on the $11 billion deal, but that decision will be based on the merger’s impact on competition and consumers. (Photos courtesy http://www.pbs.org)
[THE MIAMI HERALD] A federal bankruptcy judge sided Tuesday with American Airlines, overruling a U.S. trustee’s objection to the company’s plan to pay its chairman and CEO a nearly $20 million severance package. The ruling clears the way for American to formally seek the approval of its creditors to exit Chapter 11 bankruptcy and merge with US Airways. American, which is Miami’s largest carrier, entered bankruptcy 18 months ago and has sought concessions from employee unions to bring costs down. The two carriers announced their intention to merge late last year, and the proposal has generated little significant opposition.