Bankruptcy Judge Approves American Airlines Merger - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Bankruptcy Judge Approves American Airlines Merger

Posted: Updated:

    The $11 billion merger of American Airlines and US Airways won bankruptcy court approval Wednesday.

    The widely-expected decision by Judge Sean Lane helps clear the way for the two carriers to form the world's biggest airline, with 6,700 daily flights and annual revenue of roughly $40 billion.

    The merger still needs approval from antitrust regulators and US Airways shareholders.  It is expected to close by the fall.

    American Airlines has been in bankruptcy protection since November 2011.

    The judge did not approve a $20 million severance package for outgoing American CEO Tom Horton. The judge expressed concern that such a large payment at this point in the restructuring process would violate prohibitions in the bankruptcy law.

  • NewsMore>>

  • Crews Continue to Make Progress at I-44 Construction Project

    Crews Continue to Make Progress at I-44 Construction Project

    Crews opened up on and off ramps for eastbound I-44 at Lewis Avenue Tuesday. This is part of a $400 million project that began in 2005.
    More >>
    Crews opened up on and off ramps for eastbound I-44 at Lewis Avenue Tuesday. This is part of a $400 million project that began in 2005.

    More >>
  • Police Search for Two Men After Taco Truck Robbery

    Police Search for Two Men After Taco Truck Robbery

    Officers with the Tulsa Police Department were called to the area near 23rd and Garnett after receiving reports of an armed robbery. At the scene they found that the business robbed was a taco food truck just before midnight.
    More >>
    Officers with the Tulsa Police Department were called to the area near 23rd and Garnett after receiving reports of an armed robbery. At the scene they found that the business robbed was a taco food truck just before midnight.

    More >>
  • A New Approach To Neglected Lots

    A New Approach To Neglected Lots

    "It's a black and white issue, or in this case, green and yellow. "It's terrible," said Danley Clow, "it is just unbelievable the way they let it go."He has a gorgeous yard himself, and spends a couple of days a week keeping it in pristine condition. But across the street..."This is just pitiful," he said.It is a tiny strip of land, that's changed hands time and again. The last time at county auction. The new owner says Mr. Clow, has yet to mow it, and it got very overgrown before someone cal...More >>
    "It's a black and white issue, or in this case, green and yellow. "It's terrible," said Danley Clow, "it is just unbelievable the way they let it go."He has a gorgeous yard himself, and spends a couple of days a week keeping it in pristine condition. But across the street..."This is just pitiful," he said.It is a tiny strip of land, that's changed hands time and again. The last time at county auction. The new owner says Mr. Clow, has yet to mow it, and it got very overgrown before someone cal...More >>

Most Popular

Stories
Videos
loading...
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.