New Source: JusticeNewsFlash.com
11/27/2013 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
New Jersey – A federal bankruptcy judge granted approval for the settlement of an antitrust lawsuit filed by the government, clearing the way for an American Airlines -US Airways merger. As reported by the Associated Press (AP), the judge rejected a request made to temporarily block the deal by a group of consumers, citing they had failed to show that permitting the merger would hurt them.
The Justice Department filed the lawsuit in August to block the merger citing it would have an adverse effect on competition and prices. The merger will create the largest airline in the world.
The bankruptcy-reorganization plan was approved in September by U.S. District Court Judge Sean Lane in New York on the condition that the company won or settled the government filed lawsuit.
American reportedly plans to complete the deal by Dec. 9, which the airline stated immediately following the ruling.
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