Jack Butler News
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American Airlines parent AMR Corp. won approval for its merger with US Airways Group Inc. from a judge who also rejected a $20 million severance deal for Chief Executive Officer Tom Horton.
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AMR Corp. plans to seek bankruptcy court approval next month for its merger with US Airways Group Inc., a deal backed by creditors holding $1.2 billion in claims.
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AMR Corp. Chief Executive Officer Tom Horton will receive $19.9 million in compensation as the parent of American Airlines merges with US Airways Group Inc. and he steps aside.
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AMR Corp. Chief Executive Officer Tom Horton kept pitching himself to be CEO in a merger with US Airways Group Inc. until the end of January, when his bankruptcy creditors firmly said no, people familiar with the matter said.
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The boards of American Airlines parent AMR Corp. and US Airways Group Inc. are prepared to vote on a merger on Feb. 11 as executives and advisers work on final terms this weekend, people familiar with the matter said.
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US Airways Group Inc., pressing to take over AMR Corp.’s American Airlines in bankruptcy, made its case for a merger to the company’s unsecured creditors committee, three people familiar with the matter said.
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American Airlines parent AMR Corp. and US Airways Group Inc. are moving closer to a merger, and a decision could come early next month, people familiar with the matter said.
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American Airlines won approval to move forward with negotiations with a group of creditors, including JPMorgan Chase & Co., that may provide financing for the airline’s bankruptcy reorganization.
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The lawyer for AMR Corp.’s unsecured creditors committee warned American Airlines pilots of the risks of rejecting a tentative contract that would allow the carrier’s post-bankruptcy plan to be weighed against a US Airways Group Inc. merger, three people familiar with the matter said.
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The U.S. Supreme Court will take up the issue of gay marriage for the first time, agreeing to rule on a California ballot measure banning the practice and a federal law defining marriage as solely an opposite-sex union.
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