New York, NY -- (ReleaseWire) -- 02/25/2013 --The Wall Street Journal reports that the U.S. Bankruptcy Court Judge Sean Lane, who is overseeing the bankruptcy of American Airlines parent AMR Corporation (OTCQB: AAMRQ), will hold a hearing March 27 on the airline’s plans to merge with US Airways Group Inc.
In addition, Lane has granted a request from AMR (AAMRQ) to set a deadline of March 15 for any interested parties to file objections to the merger, according to the report.
AMR Corporation operates in the airline industry. The company, through its principal subsidiary, American Airlines, Inc., provides scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe, and Asia. American Airlines, Inc. also operates as a scheduled air freight carrier, providing a range of freight and mail services to shippers.
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Volkswagen AG (OTCQX:VLKAY)reported that its net profit increased 41 percent for 2012, but earnings fell a little short of analysts' expectations and the company issued a cautious forecast for this year.
Full-year earnings rose to €21.7 billion ($28.7 billion) from €15.4 billion the previous year; analysts surveyed by FactSet had expected them to come in just above €22 billion. Earnings were boosted last year in part by an accounting boost from the complex deal that made Porsche one of Volkswagen's 12 brands.
The company did not detail fourth-quarter earnings. Friday's statement of key 2012 figures came ahead of a full annual report planned for March 14.
Volkswagen AG, together with its subsidiaries, engages in the manufacture and sale of automobiles worldwide.
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