HUFFINGTON POST: AMR Corp , American Airlines’ bankrupt parent, on Wednesday received court approval to merge with US Airways Group Inc and create the world’s largest airline.
But one clause in the merger agreement – a $19.9 million severance package for Tom Horton, AMR’s outgoing chief executive – was not approved by the judge at a hearing in U.S. Bankruptcy Court in Manhattan.
Judge Sean Lane said he will issue a written ruling explaining his decision regarding the severance package, which had brought an objection from the Department of Justice and skepticism from Lane at Wednesday’s hearing… (more)
