Airlines merger moves closer

<p>US Airways and American Airlines are set to merge.</p>

US Airways and American Airlines are close to completing a merger after the two companies were given the green light to move forward with their plans.

The proposals, which would create one of the biggest and most powerful airlines in the world, still need approval by the Justice Department and US Airways shareholders.

"The merger is an excellent result. I don't think anybody disputes that," said Judge Sean Lane, who granted approval for the deal.

American Airlines has been in bankruptcy protection since November 2011, which is why the judge had to be involved in the discussion process regarding the potential merger.

US Airways has been profitable in recent years, in contrast with the difficulties faced by American Airlines since the start of the recession.

Shares in US Airways currently stand at 16.65, while American Airlines stocks are available at 4.02. US Airways remains close to a 52-week high of 17.43.

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