Bankruptcy judge OKs American-US Airways merger
NEW YORK (CNNMoney) — A federal bankruptcy judge gave approval on Wednesday for US Airways and American Airlines to proceed with their planned merger, according to a source familiar with the situation.
US Airways and American Airlines announced plans last month to join forces in an $11 billion deal to create the world’s largest airline.
In addition to the bankruptcy court, the merger still needs approval from federal regulators before it’s finalized, which is expected to happen in the third quarter of this year.
The combined US Airways-American company will join United Continental, Delta Air Lines and Southwest Airlines as the industry’s dominant players in the United States. Together, they accounted for 83% of U.S. airline passengers last year.