6-Aug-2013 8:48 AM

US Airways/American Airlines merger receives European Commission approval

European Commission (EC) approved (05-Aug-2013) the merger of US Airways and AMR Corporation under the EC merger regulation, subject to conditions. The Commission stated: "The decision is conditional upon the release of one daily slot pair at London Heathrow and of other commitments in order to induce entry on the London-Philadelphia route. In light of these comprehensive commitments, the Commission concluded that the transaction would not raise competition concerns." Commission VP in charge of competition policy Joaquin Almunia said: "The Commission could clear this transaction in the first phase given the commitments offered by the parties which address the competition concern we identified on the London-Philadelphia route. The commitments include a corresponding slot at London Heathrow as well as far-reaching feeder arrangements to induce entry by a new competitor on the route. We are therefore satisfied that the competitive dynamics will be maintained so as to ensure choice and quality of air services for passengers on this route." AMR Corporation chairman, president and CEO Tom Horton stated: "We are very pleased that the EU has approved the merger between American Airlines and US Airways. This represents one of the final milestones on our path to becoming the new American Airlines." [more - original PR - EC] [more - original PR - EC - II] [more - original PR - AMR/US Airways]

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