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Posted On: 04/12/2013 10:30:35 AM
Post# of 28539
Posted By: testdemo
Judge denies $20 million severance to outgoing AMR chief

American Airlines CEO Horton appears before Senate Judiciary Committee in Washington (Reuters) - A judge has rejected a proposed severance package of nearly $20 million for Thomas Horton, the chief executive of American Airlines parent company AMR Corp, saying the payout wasn't allowed under federal bankruptcy law. Bankruptcy Judge Sean Lane in Manhattan issued his ruling on Thursday. The judge had approved AMR's plan to merge with US Airways Group Inc on March 27, a step toward creating the world's largest airline. The combined company is to be run by US Airways Chief Executive Doug Parker, with Horton serving as chairman. ...



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