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Thursday, Dec. 5, 2013 | 4:17 p.m.
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Posted: 8:00 a.m. Friday, April 12, 2013
CHARLOTTE, N.C. —
A federal bankruptcy judge has denied a $20 million severance package for American Airlines' outgoing CEO.The payment was part of the American’s merger plans with US Airways.The judge said the severance for Tom Horton exceeded the limits Congress set for bankruptcy cases in 2005.Channel 9 has covered the objections to the plan from the Department of Justice.It is not clear what the latest developments will mean for the future of the merger.American and US Airways have been cleared to join and create the world’s largest airline.
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