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Expectations Rise that Judge Will Approve Bankruptcy Exit for American Airlines

American Airlines and US Airways have continued to push forward in their merger, in spite of a number of obstacles and one serious setback that has seemed as though it might end the whole deal. After American Airlines filed for bankruptcy, the merger was proposed but the option had to be approved by the bankruptcy court to continue on. While they were given the green light, that was not the end of the climb back up. There is still more to be done but further headway seems as though it may be made after a federal judge indicated that he may be approving the exit from bankruptcy.

A definite answer has yet to be given but Judge Sean H. Lane stated that he was being persuaded by the arguments so far. If this ends up being the case and the judge is swayed enough for him to allow it, it would mean that he would sign off on the restructuring plan either through a written decision before the next hearing, or at the actual hearing which is currently scheduled for September 12. By moving past this hurdle it would leave the main issue to be fought with full force: the antitrust lawsuit that the government filed. This is still a hard battle to win with the other side arguing that the merger would put four airlines in charge of over 80 percent of air traffic, which they state would increase the cost of flying.

Whether you are an individual or a business that is suffering from the effects of debt, contact our firm to speak with a knowledgeable Long Island bankruptcy attorney about the specifics of your situation. We can be reached through our toll free number at 888-229-0413.

Categories: Bankruptcy News

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