The same judge who said yes to the merger deal between the airlines isn’t as gung-ho about the parachute for outgoing American CEO Tom Horton.
The severance package on the table is said to be worth $20 million dollars once the merger deal is complete.
The judge said it would be "inappropriate" to approve the deal at this time but said he will have a written opinion soon.
The payout doesn't set well with the trustee who is watching over the bankruptcy of American's parent company AMR. Horton will get a severance package but when and how much could change as the deal becomes final.
One perk Horton will get is a lifetime supply of free first-class tickets on the new airline. Not a bad deal.
The approval of the judge on the overall merger deal means it could be complete by third quarter. Read more about it here.
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