


The combined airline will have 6,700 daily flights and annual revenue of roughly $40 billion. The new American Airlines will fly slightly more passengers than United, the current No. 1. It will be run by Doug Parker, the CEO of US Airways Group, who began pursuing a merger shortly after American filed for bankruptcy protection in November 2011.


The judge declined to approve a proposed $20 million severance package for outgoing American CEO Tom Horton. The U.S. trustee had objected to the package and, while he didn't question the amount, Lane agreed that the timing of it seemed to violate prohibitions in the bankruptcy law.





Jack Butler, a lawyer with Skadden, Arps, Slate, Meagher & Flom, said he expects Horton to eventually get his payout. Butler's firm represents American's creditors, who backed the merger and the payout for Horton.
