A U.S. bankruptcy judge on Thursday approved AMR Corp's plan to exit bankruptcy, subject to resolution of a U.S. government lawsuit to block a proposed merger with US Airways Group Inc.Judge Sean Lane approved the plan at a hearing in the U.S. Bankruptcy Court in New York.It was the American Airlines parent's third attempt to convince Lane to approve the deal in the face of opposition to the merger, which is the main component of the plan. At prior hearings, Lane had expressed uncertainty about approving a plan that might change.But on Thursday Lane said his job was to determine whether the plan meets standards of feasibility under bankruptcy law, independent of the lawsuit.
US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC fell by 0.37% or $-0.065/share to $17.66. In the past year, the shares have traded as low as $10.15 and as high as $19.70. On average, 6691180 shares of LCC exchange hands on a given day and today's volume is recorded at 2637615.
Source
