BUSINESS
11/27/2013 10:24 am ET Updated Jan 27, 2014

American Airlines, US Airways Merger Approved By Bankruptcy Judge

ASSOCIATED PRESS

NEW YORK, Nov 27 (Reuters) - A judge on Wednesday approved a settlement resolving U.S. regulators' opposition to a merger between AMR Corp and US Airways Group Inc, allowing AMR to exit bankruptcy and close on a tie-up creating the world's largest carrier.

The U.S. Department of Justice had challenged the merger, which was to serve as the basis for AMR's plan to pay back creditors and exit bankruptcy. The DOJ's antitrust watchdog had said the plan could impede competition and drive up ticket prices. The sides settled earlier this month, with the airlines agreeing to divest some takeoff and landing rights at major airports.

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9 Epic Merger Fails