American Airlines, a part of AMR Corp. (AAMRQ.PK), and online travel company Orbitz Worldwide LLC on Monday said they have resolved all litigation between them. The two companies were engaged in dispute over the display of American Airlines' flights and fares.
Both companies declined to comment on the details of the settlement deal. Nevertheless, the settlement needs to be reviewed and approved by the court presiding over AMR Corp.'s bankruptcy case.
American Airlines had filed a lawsuit against Orbitz and Travelport, an affiliate of Orbitz, alleging that they conspired to stop the airline's efforts to provide fare and reservations details directly to travel agencies. American Airlines also accused that Orbitz made its fares look higher than they were to consumers.
The litigation settlement comes at a time when AMR nears its planned merger with US Airways Group Inc. (LCC). Last month, US Bankruptcy Court judge approved AMR's planned merger with US Airways, which would form the world's largest airline. AMR, parent of American Airlines, filed for Chapter 11 bankruptcy in November 2011 amid increasing labor costs and an obstreperous labor union.
However, AMR must come out with a formal restructuring plan that incorporates the merger and meets Court and creditor approval before it can emerge from bankruptcy.
AAMRQ closed Monday's trading at $4.06, down $0.09 or 2.17%, on the OTC markets.
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