News Summary: AMR creditors OK turnaround plan

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Associated Press

Posted on August 1, 2013 at 5:01 PM

Updated Thursday, Aug 1 at 5:01 PM

CREDITORS SPEAK: Creditors that are owed money by American Airlines overwhelmingly approved the company's reorganization plan, parent AMR Corp. announced Thursday.

MERGER INCLUDED: The central feature in the plan is a merger with US Airways that will make American the biggest airline in the world.

END GAME: The merger and restructuring plan still must be approved a federal judge before AMR can emerge from bankruptcy as American Airlines Group Inc. Also, the U.S. Department of Justice is reviewing the merger amid complaints that it could lead to less competition and higher fares.

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