U.S. Airways, American Airlines Secure EU Approval


US Airways (NYSE:LCC) and AMR Corp's American Airlines secured EU regulatory approval on Monday for their $11 billion merger after promising to surrender slots at Heathrow and Philadelphia airports.

The carriers offered the concession and also committed to facilitate the entry of a new competitor to allay concerns by the European Commission over the combined company's monopoly of the route. Reuters reported the imminent EU approval on July 29.

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"The decision is conditional upon the release of one daily slot pair at London Heathrow and of other commitments in order to induce entry on the London-Philadelphia route," the EU antitrust authority said in a statement.

The Commission said the carriers would also sign special feed traffic agreements with a new competitor on the route.