US Airways received approval Friday to emerge from bankruptcy protection after the nation's seventh-largest carrier had filed for protection for the second time one year ago.
But the carrier based in Alexandria, Virginia, has to wait at least 10 days before formally emerging from bankruptcy, according to a statement by the airline.
The approval from US Bankruptcy Judge Stephen Mitchell cleared the way for US Airways to merge with America West Holdings Corp., the country's eighth-largest airline.
The two carriers expect to close the merger late this month or in early October, saying the merger will create the nation's first full-service, low-fare airline.
Along with United Airlines, Delta and Northwest, US Airways is one of four major US airlines in bankruptcy protection. Delta and Northwest filed for protection on Wednesday. United Airlines filed for bankruptcy protection in 2002.
US Airways filed for bankruptcy protection for the second time in September 2004. Its first filing took place in August 2002 after a proposed merger with UAL Corp.'s United Airlines had been rejected by federal regulators.
Source: Xinhua