FORT WORTH, Texas and
TEMPE, Ariz., Nov. 27, 2013 /PRNewswire/ -- Today, the
U.S. Bankruptcy Court for the Southern District of New York approved the settlement of the
lawsuit reached with the U.S. Department of Justice and certain
states relating to the merger of AMR Corporation and US Airways
Group, Inc. The court also ruled that the merger may be consummated
despite the pendency of a private antitrust lawsuit. As a result of
the Court's rulings, AMR Corporation, the parent company of
American Airlines, Inc., today filed with the U.S. Bankruptcy Court
for the Southern District of New
York a notice that the proposed effective date of the Plan
of Reorganization will be Dec. 9,
2013.
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Consummation of AMR's Plan of Reorganization and the merger of
US Airways Group, Inc. with and into a subsidiary of AMR
Corporation is planned to be completed prior to the securities
markets opening on Dec. 9, 2013.
Assuming this expected schedule, the last day of trading of all
outstanding securities of AMR, including the common stock trading
under the symbol "AAMRQ," and the common stock of US Airways Group,
Inc. (NYSE: LCC) will be Dec. 6,
2013.
Upon the anticipated closing of the merger on Dec. 9, 2013, AMR Corporation will be renamed
American Airlines Group Inc., with its common stock to be listed
and traded on the NASDAQ Global Select Market under the symbol
"AAL" and its preferred stock to be listed and traded on the NASDAQ
Global Select Market under the symbol "AALCP."
At the time the Plan of Reorganization becomes effective and the
merger closes, each outstanding share of US Airways Group, Inc.
common stock will be converted into one share of American Airlines
Group Inc. common stock and substantially all pre-Chapter 11
unsecured claims against and outstanding equity securities of AMR
Corporation will be satisfied by American Airlines Group Inc.
common stock or preferred stock in accordance with the Plan of
Reorganization.
For further information as to the treatment of claims and
securities under the AMR Plan of Reorganization, please refer to:
http://amrcaseinfo.com/plan.php.
About American Airlines
American Airlines focuses on providing an exceptional travel
experience across the globe, serving more than 260 airports in more
than 50 countries and territories. American's fleet of nearly 900
aircraft fly more than 3,500 daily flights worldwide from hubs in
Chicago, Dallas/Fort Worth, Los Angeles, Miami and New
York. American flies to nearly 100 international locations
including important markets such as London, Madrid, Sao
Paulo and Tokyo. With more
than 500 new planes scheduled to join the fleet, including
continued deliveries of the Boeing 737 family of aircraft and new
additions such as the Boeing 777-300ER and the Airbus A320 family
of aircraft, American is building toward the youngest and most
modern fleet among major U.S. carriers. American's website,
AA.com®, provides customers with easy access to check
and book fares, and personalized news, information and travel
offers. American's AAdvantage® program, voted Airline
Program of the Year at the 2013 Freddie Awards, lets members redeem
miles for flights to almost 950 destinations worldwide, as well as
flight upgrades, vacation packages, car rentals, hotel stays and
other retail products. The airline also offers nearly 40 Admirals
Club® locations worldwide providing comfort,
convenience, and an environment with a full range of services
making it easy for customers to stay productive without
interruption. American is a founding member of the
oneworld® alliance, which brings together some of
the best and biggest airlines in the world, including global brands
like British Airways, Cathay Pacific, Iberia Airlines, Japan
Airlines, LAN and Qantas. Together, its members serve more than 840
destinations served by some 9,000 daily flights to nearly 160
countries and territories. Connect with American on Twitter
@AmericanAir or Facebook.com/AmericanAirlines. American Airlines,
Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR
Corporation. AMR Corporation common stock trades under the symbol
"AAMRQ" on the OTCQB marketplace, operated by OTC Markets
Group.
About US Airways
US Airways, along with US Airways
Shuttle and US Airways Express, operates more than 3,100 flights
per day and serves 198 communities in the U.S., Canada, Mexico, Europe, the Middle
East, the Caribbean,
Central and South America. The
airline employs more than 32,000 aviation professionals worldwide,
operates the world's largest fleet of Airbus aircraft and is a
member of the Star Alliance network, which offers its customers
more than 21,900 daily flights to 1,329 airports in 194 countries.
Together with its US Airways Express partners, the airline serves
approximately 80 million passengers each year and operates hubs in
Charlotte, N.C., Philadelphia, Phoenix and Washington, D.C. Aviation Week and Overhaul
& Maintenance magazine presented US Airways with the 2012
Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award
for demonstrating outstanding achievement and innovation in the
area of technical operations. Military Times Edge magazine named US
Airways as a Best for Vets employer for the past three years. US
Airways was, for the third year in a row, the only airline included
as one of the 50 best companies to work for in the U.S. by LATINA
Style magazine's 50 Report. The airline also earned a 100 percent
rating on the Human Rights Campaign Corporate Equality index for
six consecutive years. The Corporate Equality index is a leading
indicator of companies' attitudes and policies toward lesbian, gay,
bisexual and transgender employees and customers. For more company
information visit usairways.com, follow on Twitter @USAirways or at
Facebook.com/USAirways.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by
words such as "may," "will," "expect," "intend," "anticipate,"
"believe," "estimate," "plan," "project," "could," "should,"
"would," "continue," "seek," "target," "guidance," "outlook,"
"forecast" and other similar words. These forward-looking
statements are based on AMR's and US Airways Group's current
objectives, beliefs and expectations, and they are subject to
significant risks and uncertainties that may cause actual results
and financial position and timing of certain events to differ
materially from the information in the forward-looking
statements. The following factors, among others, could cause
actual results and financial position and timing of certain events
to differ materially from those described in the forward-looking
statements: the challenges and costs of the proposed
transaction, including integrating operations and our ability to
achieve anticipated annual net synergies of more than $1 billion in 2015; the effects of divestitures
pursuant to the settlement with the Department of Justice and
certain states; the price of, market for and potential market price
volatility of US Airways Group common stock, AMR common stock and
the common stock and preferred stock of American Airlines Group
following the closing of the proposed transaction; significant
liquidity requirements and substantial levels of indebtedness of
the combined company following the closing; potential limitations
on the use of certain tax attributes following the closing; failure
of the proposed transaction to be completed; and other economic,
business, competitive, and/or regulatory factors affecting the
business of the combined company after the closing and the
businesses of US Airways Group's and AMR generally, including those
set forth in the filings of US Airways Group and AMR with the SEC,
especially in the "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" sections
of their respective annual reports on Form 10-K and quarterly
reports on Form 10-Q, their current reports on Form 8-K and other
SEC filings, including the registration statement and the proxy
statement/prospectus related to the proposed transaction. Any
forward-looking statements speak only as of the date hereof or as
of the dates indicated in the statements. Neither AMR nor US
Airways Group assumes any obligation to publicly update or
supplement any forward-looking statement to reflect actual results,
changes in assumptions or changes in other factors affecting these
forward-looking statements except as required by law.
Additional Information and Where To Find It
Investors and security holders of US Airways GROUP are urged to
read the relevant documents filed BY AMR AND US AIRWAYS GROUP with
the SEC carefully and in their entirety because they contain
important information about the proposed transaction.
Investors and security holders may obtain free copies of AMR's and
US Airways Group's SEC filings through the website maintained by
the SEC at http://www.sec.gov. Copies of the documents filed
with the SEC by US Airways Group can be obtained free of charge on
US Airways Group's website at www.usairways.com or by directing a
written request to US Airways Group, Inc., 111 West Rio Salado
Parkway, Tempe, Arizona 85281,
Attention: Vice President, Legal Affairs. Copies of the
documents filed with the SEC by AMR can be obtained free of charge
on AMR's website at www.aa.com or by directing a written
request to AMR Corporation, P.O. Box 619616, MD 5675, Dallas/Fort Worth International Airport,
Texas 75261-9616, Attention:
Investor Relations or by emailing investor.relations@aa.com.
SOURCE American Airlines