American-US Airways court hearing date set

Washington DC
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The bankruptcy court has set the date for a hearing on the proposed American Airlines and US Airways merger for 27 March.

The airlines agreed to merge in an all-stock deal with American creditors receiving 72% and US Airways shareholders 28% of the equity in the new company on 13 February. The new airline would be named American, based in Fort Worth, Texas, and with US Airways chairman and chief executive Doug Parker as chief executive.

Approval of the US Bankruptcy Court for the Southern District of New York is just one of many the airlines need before the deal can close. US Airways shareholders and the US Department of Justice also must approve the deal.

Objections to the hearing must be filed with the US Bankruptcy Court for the Southern District of New York by 15 March.