A judge on Wednesday approved AMR Corp's plan to merge with US Airways Group , a step toward creating the world's largest airline.AMR, parent of American Airlines and in bankruptcy since November 2011, must still construct a formal restructuring plan incorporating the merger that meets court and creditor approval before the airline can emerge from bankruptcy.American Airlines announced the plan to combine with US Airways last month, a deal that also requires regulatory approval.In a crowded Manhattan courtroom on Wednesday, U.S. Bankruptcy Judge Sean Lane declined to approve, for now, a planned $19.9 million severance package for Tom Horton, AMR's outgoing chief executive.
US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC traded higher by 0.85% or $0.14/share to $16.65. In the past year, the shares have traded as low as $7.41 and as high as $17.43. On average, 8685220 shares of LCC exchange hands on a given day and today's volume is recorded at 5485708.
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