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CNBC's Dominic Chu reports US Airways and AMR have reached a merger settlement with the DOJ. The merging of both airlines will create the world's biggest airline.
WASHINGTON/ NEW YORK, Nov 12 (Reuters)- US Airways Group Inc and American Airlines have agreed to give up landing spots and gates at several U.S. airports to win U.S. antitrust approval for their proposed merger, the Department of Justice said on Tuesday.
The Justice Department said Tuesday it will require US Airways and AMR to divest facilities at seven airports in order for their proposed merger to proceed.
American and U.S. Airways have settled their merger suit with the Justice Department. Virgin America CEO David Cush weighs in on the impact the agreement will have on smaller communities.
NEW YORK, Nov 12- US Airways Group Inc and AMR Corp have reached a settlement with U.S. antitrust regulators who had filed suit to stop the two airlines from merging, a source familiar with the matter said on Tuesday.
CNBC's David Faber reports shares of AMR and U.S. Airways are halted.
Take a look at some of Wednesday's midday movers:
"Mad Money" host Jim Cramer made calls on stocks viewers asked about.
*AMR Corp shares spike up 24.5 percent.
Nov 4- US Airways Group was fined $1.2 million by the U.S. Department of Transportation on Monday for not providing adequate wheelchair assistance to passengers at airports in Philadelphia and Charlotte, North Carolina.
WASHINGTON, Nov 4- The U.S. Justice Department is pressing for divestitures at airports throughout the United States as a condition for dropping a lawsuit aimed at stopping a proposed merger of US Airways and American Airlines, U.S.
WASHINGTON, Nov 4- The U.S. Justice Department is looking for divestitures at key airports throughout the United States as a condition for dropping a lawsuit aimed at stopping the proposed merger of US Airways and American Airlines, U.S. Attorney General Eric Holder said on Monday.
Some of the names on the move ahead of the open.
Cramer likes airlines. But of all the airlines he likes this one a little more.
MIAMI, Nov 1- The attorney general of Florida, one of several states challenging the proposed merger of American Airlines and US Airways, said on Friday she hoped for a "timely resolution" after meeting with American Airlines' top executive.
*Facebook rises in premarket, trading could be volatile. Optimism about earnings was boosted by Exxon Mobil Corp, one of the largest U.S. companies by market cap, which reported adjusted third-quarter earnings that beat expectations, sending shares 0.8 percent higher to $89.53 in premarket trading.
*Facebook rises in premarket, trading could be volatile. NEW YORK, Oct 31- U.S. stock index futures edged lower on Thursday, suggesting the market's rally may have run out of steam, as investors digested recent comments from the Federal Reserve.
*Facebook rises in premarket, trading could be volatile. NEW YORK, Oct 31- U.S. stock index futures edged lower on Thursday, suggesting the market's rally may have run out of gas, as investors continued to digest recent comments from the Federal Reserve.
Airlines are on track to collect a record $42.6 billion in ancillary revenue, according to a new study.
*Southwest in line, Alaska Air tops estimates. Oct 24- Southwest Airlines and United Continental Holdings made more money in the third quarter as higher airfares bolstered revenue, capping a strong week of earnings for major U.S. airlines that bodes well for the current period.