Manufacturing Industry
ATSB approves America West-US Airways merger
Airline Industry Information, July 25, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
The Air Transportation Stabilization Board (ATSB) in the USA has approved the proposed merger between US Airways and America West.
America West Holdings Corporation (NYSE: AWA) and US Airways Group Inc (OTC Bulletin Board: UAIRQs) both hold loans backed by a federal guarantee from the ATSB.
The board, which is in charge of a USD10bn loan programme for US airlines, said that the proposed merger would help the competitiveness of both airlines. The proposal has also been approved by the Justice Department but still requires approval from the US Bankruptcy Court in Alexandria, Va.
According to The Associated Press, the two airlines are on schedule with the merger and expect to complete the deal in late September or early October.
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