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Bankruptcy judge sets vote date for AA's turnaround plan

11:58 AM, Jun 9, 2013   |    comments
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FORT WORTH, Texas (AP) - American Airlines' creditors could begin voting this month on the company's turnaround plan and proposed merger with US Airways.

A federal bankruptcy judge in New York gave American's parent company, AMR Corp., approval Friday to send solicitation material to creditors by June 20.

They'll have until July 29 to vote.

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If creditors go along, the judge could confirm the reorganization plan at a hearing scheduled for Aug. 15, clearing the way for AMR to combine with US Airways and emerge from Chapter 11 protection.

AMR CEO Tom Horton said his company was "in the home stretch of our restructuring."

The merger is still being reviewed by antitrust regulators at the Department of Justice. Based on current figures, American would become the biggest airline in the world, surpassing United Airlines in passenger miles.

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