The details of American Airlines’ reorganization plan and the fate of CEO Tom Horton’s $19.5 million golden parachute should become clear over the next few days.
— Dennis Schaal
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American Airlines is about to spell out its plan for emerging from bankruptcy protection after merging with US Airways.
US Airways Group Inc., whose CEO will run the combined company, said in a message to employees that American was expected to file its reorganization plan later Monday in federal bankruptcy court in New York. American confirmed the report.
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