AMR urges court to OK Chapter 11 plan despite antitrust lawsuit
Aug 23 (Reuters) - American Airlines on Friday urged a bankruptcy judge to approve its Chapter 11 restructuring plan despite an antitrust challenge from the U.S. Department of Justice.
In court papers filed in U.S. Bankruptcy Court in Manhattan, American's bankrupt parent, AMR Corp, said failing to approve the restructuring would add "a destabilizing factor" to its proposal to merge with US Airways Group and pay back creditors.
The DOJ on Aug. 13 filed a lawsuit to block the proposed $11 billion merger, which is the basis for AMR's plan to exit bankruptcy and pay back creditors. The DOJ said the merger would increase fares and hurt consumers.
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