Judge approves American-US Airways merger

Published on NewsOK Modified: March 27, 2013 at 4:50 pm •  Published: March 27, 2013
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The proposed severance package includes $19.9 million in cash and stock as well as a lifetime of free first-class tickets on American for Horton and his wife.

Jack Butler, a lawyer with Skadden, Arps, Slate, Meagher & Flom, said he expects Horton to eventually get his payout. Butler's firm represents American's creditors, who backed the merger and the payout for Horton.

Separately, Lane approved a motion to extend American's exclusive period for filing a reorganization plan until May 29, the last such extension allowed under law. There is then a 60-day waiting period for creditors to object to the plan before Lane can sign off on American's emergence from bankruptcy protection.

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

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Scott Mayerowitz can be reached at http://twitter.com/GlobeTrotScott.

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