04/24/14 05:39:30 AM

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BREAKING: Airlines Mega-Merger Between American and US Airways Allowed

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FOX NEWS: Developing: U.S. Airways and American Airlines reached an antitrust settlement with the U.S. regarding their $11 billion highly-debated merger on Tuesday in a deal that includes divesting several slots. 

The agreement, which ends a three-month investigation by the Department of Justice,  calls for certain slots to be divested, according to Reuters citing court documents. 

The DOJ and several states which includes Tennessee claimed that the merger would have far-reaching implications for the industry. It filed a lawsuit to block the deal on anti-trust grounds, though it did say it would be open to a settlement. 

One of the primary problems was the sheer size of the airline: combined it would be the worlds largest, with a virtual monopoly on slots at certain airlines, including in Washington D.C. Authorities feared that would weigh on competition, forcing fares at U.S. Airways, known previously for its discounts, higher.

The settlement calls for slots to be divested at La Guardia in New York, including 34 slots consisting of 24 held by U.S. Airways and 10 leased by AMR to Southwest Airlines (LUV), according to Reuters. 

Neither company immediately responded to requests for comment. 
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