Airline merger deal OK’d by Justice Department
Posted Nov 13, 2013 10:40 AM CDT
By Debra Cassens Weiss
The U.S. Justice Department has approved a settlement that would allow the merger of American Airlines and U.S. Airways.
The deal calls for the two airlines to sell 104 takeoff and landing slots at Ronald Reagan National Airport in Washington, and 34 slots at La Guardia Airport in New York, report the New York Times DealBook blog and the National Law Journal. Lower-cost airlines would buy the slots. American and U.S. Airways would also sell the rights to two airport gates at five different airports.
The U.S. Justice Department sued to block the proposed merger in August. Trial was scheduled to begin in two weeks. A federal judge must still approve the settlement.