US Court Approves AMR Corp's Plan To Exit Bankruptcy

(RTTNews) - AMR Corp's (AAMRQ.PK, AAMRQ) reorganization plan to exit bankruptcy has received approval from a US court. The Judge concluded the plan is feasible, if allowed to proceed. The legal battle will continue as the company is facing an antitrust lawsuit challenging the proposed merger.

On August, 2013, Department of Justice's Antitrust Division, along with the attorneys general, filed a civil antitrust lawsuit challenging the proposed $11 billion merger between US Airways Group Inc. (LCC) and American Airlines' parent corporation, AMR Corp.

As per the reorganization plan, if the companies fail to settle this antitrust litigation, the reorganization plan would need to be reconsidered by the bankruptcy court.