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Wednesday, February 13, 2013

AMR creditors approve American-US Air merger -sources, (NYSE: LCC)

The unsecured creditors committee of bankrupt American Airlines parent AMR Corp has approved an $11 billion merger with US Airways Group Inc , sources familiar with the situation said on Wednesday. The deal will be announced Thursday, the sources said, assuming the boards of both companies approve it Wednesday night. AMR's unsecured creditors will be made whole under the terms of the deal and also get accrued interest, they added.

US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC traded higher by 2.73% or $0.39/share to $14.66. In the past year, the shares have traded as low as $6.78 and as high as $15.64. On average, 6272540 shares of LCC exchange hands on a given day and today's volume is recorded at 10242237.