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Monday, March 4, 2013

US Airways beefs up lobbying power for review of American merger, (NYSE: LCC)

US Airways Group Inc , which is seeking U.S. government approval to purchase rival American Airlines, has hired two new lobbying firms, according to recent filings.The Justice Department is reviewing US Airways' proposed $11 billion purchase of American to ensure that it complies with antitrust law, and congressional committees have been holding hearings.US Airways, which has been pushing to buy American for months, spent $2.8 million on lobbyists in 2012, up sharply from the $1.7 million spent in 2011, according to the Center for Responsive Politics.The hirings were first reported by the Center for Public Integrity.

US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC traded higher by 2.13% or $0.29/share to $13.90. In the past year, the shares have traded as low as $6.78 and as high as $15.64. On average, 7583780 shares of LCC exchange hands on a given day and today's volume is recorded at 8032228.