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Wednesday, November 27, 2013

Court approves settlement among Justice Dept., AMR, US Airways, (NYSE: LCC)

A judge on Wednesday approved a settlement resolving U.S. regulators' opposition to a merger between AMR Corp and US Airways Group Inc, allowing AMR to exit bankruptcy and close on a tie-up creating the world's largest carrier. The U.S. Department of Justice had challenged the merger, which was to serve as the basis for AMR's plan to pay back creditors and exit bankruptcy. The DOJ's antitrust watchdog had said the plan could impede competition and drive up ticket prices. The sides settled earlier this month, with the airlines agreeing to divest some takeoff and landing rights at major airports.

US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC traded higher by 0.21% or $0.05/share to $23.86. In the past year, the shares have traded as low as $11.97 and as high as $25.49. On average, 7197910 shares of LCC exchange hands on a given day and today's volume is recorded at 1992495.