A PYMNTS Company

US: Last-ditch efforts against airline merger crumble

By  |  November 27, 2013

US bankruptcy judge Sean Lane approved the settlement between American Airlines, US Airways and the US Department of Justice, allowing the merger to continue and for American Airline to go forward with its restructuring plan and exit bankruptcy.

The ruling, announced as expected, rejected the last-ditch effort by attorney Joseph Alioto, who filed for a temporary restraining order to block the merger claiming the deal would concentrate about 80 percent of the airline market. Judge Lane ruled that the private plaintiffs “have utterly failed to establish irreparable harm” as they claimed.

The merger will now continue with the airlines expecting to close the $17.2 billion deal December 9. The new company will be the largest airline in the world.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.