IIn our business, we’re used to handling delays and a little turbulence. But, smoother skies are ahead as we’re now approved to move forward in building the new American together! Today, the Bankruptcy Court ruled on two matters that allow American to take the final steps to emerge from restructuring and for us to come within arm’s reach of completing our merger. As a result of the rulings, we intend to close the merger and emerge from restructuring on December 9.
Following a hearing on Monday morning, Judge Sean Lane approved American’s settlement with the DOJ and the states attorneys general that were parties to the lawsuit, finding that even with the divestitures, American can still move ahead with our Plan of Reorganization (POR) and the merger. Judge Lane also ruled the merger may close despite a private antitrust lawsuit that is pending before the Court.
As a result of these rulings, AMR filed a notice with the Court stating that the proposed effective date of its POR will be Monday, December 9. That will be an important date of celebration for our people – on that day, American will emerge from restructuring and we will legally close our merger. While we will come together as a company to mark the day, we will not be making any changes from a customer perspective until after the busy holiday season.