Following the DoJ’s ‘surprising’ August decision to block the $11bn merger of American and US Airways (after approving other airline mergers in the recent past), it would appear the parties have reached a settlement:
- *U.S. FILES PROPOSED SETTLEMENT IN AMR CASE IN FEDERAL COURT
- *DOJ REQUIRES US AIRWAYS, AMERICAN AIRLINES TO DIVEST FACILITIES
- *AIRPORT SLOTS TO BE SOLD UNDER PROCESS APPROVED BY U.S.
Some of the initial details (below) include divesting slots at Laguardia and Reagan National. AMR is trading up over 25%…
Via Reuters:
- SETTLEMENT SAYS LAGUARDIA DIVESTMENTS INCLUDE 34 SLOTS, CONSISTING OF 24 HELD BY AMR OR US AIRWAYS, AND 10 LEASED BY AMR TO SOUTHWEST AIRLINES CO
- SETTLEMENT SAYS REAGAN NATIONAL DIVESTMENTS INCLUDE 104 SLOTS HELD BY US AIRWAYS OR AMR, INCLUDING 16 LEASED BY AMR TO JETBLUE AIRWAYS CORP
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ljl8EXZB_j0/story01.htm Tyler Durden