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AMR, US Air Settle Anti-Trust Suit Over Merger
foxbusiness.com U.S. Airways (LCC) and AMR reached an antitrust settlement with the U.S. regarding their $11 billion highly-debated merger on Tuesday in a deal that includes divesting several slots. The agreement, which ends a three-month investigation by the Department of Justice, paves the way for the creation of the world's largest airline. Shares of U.S. Airways, previously halted for news pending, were up about 1% recently. The DOJ, which in August claimed that the merger would have far-reaching implications for the industry, filed a lawsuit to block the deal on anti-trust grounds, though it did say it would be open to a settlement. One of the primary problems was the sheer size of the airline: combined it would be the world’s largest, with a virtual monopoly on slots at certain airlines, including in Washington D.C. Authorities feared that would weigh on competition, forcing fares at U.S. Airways, known previously for its discounts, higher. to read more click here: foxbusiness.com
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