FORT WORTH, Texas and TEMPE, Ariz., Nov. 27, 2013 /PRNewswire/ -- Today, the U.S. Bankruptcy Court for the Southern District of New York approved the settlement of the lawsuit reached with the U.S. Department of Justice and certain states relating to the merger of AMR Corporation and US Airways Group, Inc. The court also ruled that the merger may be consummated despite the pendency of a private antitrust lawsuit. As a result of the Court's rulings, AMR Corporation, the parent company of American Airlines, Inc., today filed with the U.S. Bankruptcy Court for the Southern District of New York a notice that the proposed effective date of the Plan of Reorganization will be Dec. 9, 2013.
Consummation of AMR's Plan of Reorganization and the merger of US Airways Group, Inc. with and into a subsidiary of AMR Corporation is planned to be completed prior to the securities markets opening on Dec. 9, 2013. Assuming this expected schedule, the last day of trading of all outstanding securities of AMR, including the common stock trading under the symbol "AAMRQ," and the common stock of US Airways Group, Inc. (NYSE: LCC) will be Dec. 6, 2013.Upon the anticipated closing of the merger on Dec. 9, 2013, AMR Corporation will be renamed American Airlines Group Inc., with its common stock to be listed and traded on the NASDAQ Global Select Market under the symbol "AAL" and its preferred stock to be listed and traded on the NASDAQ Global Select Market under the symbol "AALCP." At the time the Plan of Reorganization becomes effective and the merger closes, each outstanding share of US Airways Group, Inc. common stock will be converted into one share of American Airlines Group Inc. common stock and substantially all pre-Chapter 11 unsecured claims against and outstanding equity securities of AMR Corporation will be satisfied by American Airlines Group Inc. common stock or preferred stock in accordance with the Plan of Reorganization.
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