America West, US Airways merger passes first regulatory review

America West, US Airways merger passes first regulatory review    The U.S. Justice Department has completed its review of the proposed merger between America West Holdings Corp. and US Airways Group Inc.
   The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired midnight Thursday without a formal request from the department for additional information (commonly referred to as a “second request”).
   On May 19, America West and US Airways announced an agreement to merge and operate under the US Airways brand.
   America West and US Airways have already said the merger has $500 million in new equity investment backing, as well as other potential equity and financing sources still under negotiation. Participation by suppliers and business partners will provide the merged company with more than $1.5 billion in cash at the time of the transactions closing, the airlines said in a joint statement.
   The merger remains subject to other approvals, including America West shareholders, US Airways creditors, the U.S. Bankruptcy Court, the Securities and Exchange Commission, the U.S. Department of Transportation and the Air Transportation Stabilization Board.
   The two companies said they expect to secure all necessary regulatory approvals this summer, with the goal of closing the transaction by early fall.