American
Airlines said today it was pleased to be notified by the U.S. Department
of Justice that DOJ had ended its investigation of American's planned
acquisition of Trans World Airlines and will not challenge the
transaction. DOJ also said it has granted early termination of the
Hart-Scott-Rodino waiting period.
American's acquisition of TWA was announced on January 10, 2001 and
gained U.S. Bankruptcy Court approval on March 12, 2001. It will enhance
American’s overall network while delivering significant benefits to the
public, thousands of employees and many communities by keeping virtually
all of TWA’s people working and airplanes flying.
American expects to close the transaction next month pending the
resolution of certain labor issues relating to the integration of TWA
and American’s workforces.
American Airlines and its regional airline affiliate, American Eagle,
together serve nearly 240 cities in 49 countries and operate
approximately 4,100 daily flights. American Airlines, which traces its
beginnings to 1926, today operates a fleet of 720 modern jetliners and
employs more than 103,000 people worldwide. American Airlines and
American Eagle are both wholly owned by AMR Corp. (NYSE: AMR) |