AMR & US Airways Approve Merger

On Wednesday, the boards of both AMR Corp. and US Airways Group Inc. met and approved a merger which would create the worlds largest airline.  The new airline would have a market value of approximately $11 Billion.  AMR’s bankruptcy creditors will own 72% of the new airline which will do business under the American Airlines name and will be based in Fort Worth, Texas.  The new airline could become the largest airline in terms of passenger traffic.

Here’s a link to the full article: http://articles.chicagotribune.com/2013-02-13/news/chi-report-creditors-ok-american-us-airways-merger-20130213_1_amr-creditors-delta-northwest-and-united-continental-mergers-unsecured-creditors

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