AMR Judge OKs US Airways Merger, But Not $20M CEO Bonus

Law360, New York (March 27, 2013, 5:42 PM EDT) -- AMR Corp. and US Airways Group Inc. on Wednesday received court approval for their $11 billion merger that will create the world’s largest carrier, but the judge declined to sign off on the $20 million bonus AMR’s top executive was set to receive through the transaction.

Debate at Wednesday’s bankruptcy court hearing on the merger centered largely on CEO Tom Horton’s $19.9 million severance package, which he could still receive despite U.S. Bankruptcy Judge Sean H. Lane’s ruling. The bonus may be incorporated into AMR’s Chapter...
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