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Here's an interesting article with the dead line I was referring to. Do you think Delta's attorneys will be smart enough to comply this time??
BTW: Delta will not get any more than the 2 gates they currently have, IF, I repeat, IF they even get those. WN, pls correct me if I am wrong, but I believe there is verbiage in the W/A agreement that 2 gates will go to one airline and 2 will go to another airline, as well as if there are more airlines wanting to come in they would be required to share the 4 gates. I have been told that SWA will not get any of the 4 gates unless they remain open after bidding and not used, but I could be wrong here. Anyway here's the article:-
AMR Merger Settlement Approved by Bankruptcy Judge
By Erik Larson - Nov 27, 2013 10:59 AM CT .
American Airlines parent AMR Corp. (AAMRQ) won bankruptcy court approval of the deal it reached this month with regulators to complete its $17.2 billion merger with US Airways Group Inc. and create the world’s biggest airline.
The Nov. 12 accord with the U.S. Justice Department, which agreed to drop its antitrust challenge if the carriers gave up some airport slots, was approved today by U.S. Bankruptcy Judge Sean Lane in Manhattan.
Enlarge image American Airlines & US Airways
American Airlines & US Airways
US Airways and AMR Corp.'s American Airlines said a merger was the only way they could compete with United Continental Holdings Inc. and Delta Air Lines Inc., the industry’s biggest carriers. Photographer: Andrew Harrer/Bloomberg
AMR, US Airways Merger Good for Economy: Crandall
2:12
Nov. 13 (Bloomberg) -- Robert Crandall, former chief executive officer of American Airlines' parent AMR Corp., talks about the U.S. settlement allowing the merger of AMR and US Airways Group Inc. to go through. Crandall speaks with Tom Keene and Scarlet Fu on Bloomberg Television's "Surveillance."
.
“The settlement easily satisfies” bankruptcy requirements and the merger may be consummated “without delay,” Lane said. A more detailed written version of the ruling will be posted on the docket today at noon, he said.
AMR, based in Fort Worth, Texas, intends to complete the merger on Dec. 9 and rename the company American Airlines Group Inc., it said today in a statement. The last day of trading of all outstanding securities of AMR and the common stock of US Airways will be Dec. 6, according to the statement.
In his ruling, Lane denied a bid by a group of private plaintiffs opposing the merger to temporarily block the agreement. He said the plaintiffs made “sweeping” allegations without proving they would suffer any harm, and also relied heavily on the Justice Department’s claims in its now-settled lawsuit.
‘Utterly Failed’
“The plaintiffs have utterly failed to establish irreparable harm” as a result of the merger, Lane said.
The Washington judge in the antitrust case must also approve the terms of the proposed settlement after a public comment period that runs through Feb. 7.
“Today’s rulings by the court are another important step in our path toward emerging from restructuring and closing our planned merger with US Airways,” Mike Trevino, an American spokesman, said in an e-mail.
The deal with US Airways is the linchpin of American’s bid to emerge from bankruptcy after almost two years and repay creditors. Lane approved American’s bankruptcy reorganization plan in September, while barring it from taking effect until the underlying merger won regulatory clearance.
The Justice Department filed the antitrust lawsuit in August to block the merger of American and Tempe, Arizona-based US Airways, arguing it would raise prices and harm consumers. American could emerge from bankruptcy and compete on its own without the merger, the U.S. said.
Landing Slots
To resolve regulators’ concerns that the deal would give the merged airline too much clout at Washington’s Ronald Reagan National Airport and boost prices, American and US Airways agreed to divest 52 pairs of takeoff and landing slots there. The combined carrier will also give up 34 slots at New York’s LaGuardia Airport and make smaller concessions at five other airports.
American and US Airways said a merger was the only way they could compete with United Continental Holdings Inc. (UAL) and Delta Air Lines Inc. (DAL), the industry’s biggest carriers. They argued the deal would give passengers more choices and generate more than $500 million a year in benefits.
AMR’s total value for its stakeholders under the reorganization plan is about $13.1 billion based on current trading, representing an increase of $2.7 billion since Aug. 7, when a valuation was last completed, Stephen Karotkin, a lawyer for the company, told Lane at a Nov. 25 hearing.
‘Most Successful’
“This hearing represents the culmination of perhaps the most successful Chapter 11 case for an airline in recent history,” he said at that hearing, calling the value created for creditors a “remarkable achievement.”
“We are pleased with the judge’s ruling,” Karotkin said after today’s hearing.
After the merger, US Airways Chief Executive Officer Doug Parker will hold the same title at the combined airline, while AMR CEO Tom Horton would serve as chairman until the first annual meeting of the merged carrier.
The merger agreement gives 28 percent of the stock of the combined company to US Airways shareholders, with the remaining 72 percent going to AMR creditors, unions, certain employees and shareholders.
The bankruptcy case is In re AMR Corp., 11-bk-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan). The antitrust case is U.S. v. US Airways Group Inc. (LCC), 13-cv-01236, U.S. District Court, District of Columbia (Washington).
BTW: Delta will not get any more than the 2 gates they currently have, IF, I repeat, IF they even get those. WN, pls correct me if I am wrong, but I believe there is verbiage in the W/A agreement that 2 gates will go to one airline and 2 will go to another airline, as well as if there are more airlines wanting to come in they would be required to share the 4 gates. I have been told that SWA will not get any of the 4 gates unless they remain open after bidding and not used, but I could be wrong here. Anyway here's the article:-
AMR Merger Settlement Approved by Bankruptcy Judge
By Erik Larson - Nov 27, 2013 10:59 AM CT .
American Airlines parent AMR Corp. (AAMRQ) won bankruptcy court approval of the deal it reached this month with regulators to complete its $17.2 billion merger with US Airways Group Inc. and create the world’s biggest airline.
The Nov. 12 accord with the U.S. Justice Department, which agreed to drop its antitrust challenge if the carriers gave up some airport slots, was approved today by U.S. Bankruptcy Judge Sean Lane in Manhattan.
Enlarge image American Airlines & US Airways
American Airlines & US Airways
US Airways and AMR Corp.'s American Airlines said a merger was the only way they could compete with United Continental Holdings Inc. and Delta Air Lines Inc., the industry’s biggest carriers. Photographer: Andrew Harrer/Bloomberg
AMR, US Airways Merger Good for Economy: Crandall
2:12
Nov. 13 (Bloomberg) -- Robert Crandall, former chief executive officer of American Airlines' parent AMR Corp., talks about the U.S. settlement allowing the merger of AMR and US Airways Group Inc. to go through. Crandall speaks with Tom Keene and Scarlet Fu on Bloomberg Television's "Surveillance."
.
“The settlement easily satisfies” bankruptcy requirements and the merger may be consummated “without delay,” Lane said. A more detailed written version of the ruling will be posted on the docket today at noon, he said.
AMR, based in Fort Worth, Texas, intends to complete the merger on Dec. 9 and rename the company American Airlines Group Inc., it said today in a statement. The last day of trading of all outstanding securities of AMR and the common stock of US Airways will be Dec. 6, according to the statement.
In his ruling, Lane denied a bid by a group of private plaintiffs opposing the merger to temporarily block the agreement. He said the plaintiffs made “sweeping” allegations without proving they would suffer any harm, and also relied heavily on the Justice Department’s claims in its now-settled lawsuit.
‘Utterly Failed’
“The plaintiffs have utterly failed to establish irreparable harm” as a result of the merger, Lane said.
The Washington judge in the antitrust case must also approve the terms of the proposed settlement after a public comment period that runs through Feb. 7.
“Today’s rulings by the court are another important step in our path toward emerging from restructuring and closing our planned merger with US Airways,” Mike Trevino, an American spokesman, said in an e-mail.
The deal with US Airways is the linchpin of American’s bid to emerge from bankruptcy after almost two years and repay creditors. Lane approved American’s bankruptcy reorganization plan in September, while barring it from taking effect until the underlying merger won regulatory clearance.
The Justice Department filed the antitrust lawsuit in August to block the merger of American and Tempe, Arizona-based US Airways, arguing it would raise prices and harm consumers. American could emerge from bankruptcy and compete on its own without the merger, the U.S. said.
Landing Slots
To resolve regulators’ concerns that the deal would give the merged airline too much clout at Washington’s Ronald Reagan National Airport and boost prices, American and US Airways agreed to divest 52 pairs of takeoff and landing slots there. The combined carrier will also give up 34 slots at New York’s LaGuardia Airport and make smaller concessions at five other airports.
American and US Airways said a merger was the only way they could compete with United Continental Holdings Inc. (UAL) and Delta Air Lines Inc. (DAL), the industry’s biggest carriers. They argued the deal would give passengers more choices and generate more than $500 million a year in benefits.
AMR’s total value for its stakeholders under the reorganization plan is about $13.1 billion based on current trading, representing an increase of $2.7 billion since Aug. 7, when a valuation was last completed, Stephen Karotkin, a lawyer for the company, told Lane at a Nov. 25 hearing.
‘Most Successful’
“This hearing represents the culmination of perhaps the most successful Chapter 11 case for an airline in recent history,” he said at that hearing, calling the value created for creditors a “remarkable achievement.”
“We are pleased with the judge’s ruling,” Karotkin said after today’s hearing.
After the merger, US Airways Chief Executive Officer Doug Parker will hold the same title at the combined airline, while AMR CEO Tom Horton would serve as chairman until the first annual meeting of the merged carrier.
The merger agreement gives 28 percent of the stock of the combined company to US Airways shareholders, with the remaining 72 percent going to AMR creditors, unions, certain employees and shareholders.
The bankruptcy case is In re AMR Corp., 11-bk-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan). The antitrust case is U.S. v. US Airways Group Inc. (LCC), 13-cv-01236, U.S. District Court, District of Columbia (Washington).
