AMR, US Airways Get European Regulatory Approval For Merger

(RTTNews) - AMR Corp. (AAMRQ), the parent company of American Airlines, Inc., and US Airways Group, Inc. (LCC) said Monday that they have received clearance from the European Commission under the EC Merger Regulation for their proposed merger.

The merger is subject to regulatory approvals, other customary closing conditions and confirmation of AMR's Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of New York.

The companies continue to expect to complete the combination in the third quarter of 2013.

In February, AMR and US Airways had announced a $11 billion-deal to create the world's largest airline. US Airways shareholders will own 28% of the combined company, while the remaining stake will be held by stakeholders of AMR and its debtor subsidiaries.