America West Airlines, US Airways merger passes another test

America West Airlines, US Airways merger passes another test    The Air Transportation Stabilization Board (ATSB) has given its approval for the planned merger between America West Airlines and US Airways.
   Both America West and US Airways hold loans backed by a federal guarantee from the ATSB. Pending final bankruptcy court and US Airways board approval and upon close of the merger, the two airlines’ outstanding ATSB loan guarantees will be consolidated with payments beginning September 2005 through September 2010. Final terms are still being negotiated.
   In June, the U.S. Justice Department completed its review of the proposed merger without making a “second request” for additional information. The merger remains subject to other approvals, including America West shareholders, US Airways creditors, the U.S. Bankruptcy Court, the Securities and Exchange Commission, and the U.S. Department of Transportation.
   The two companies said they expect to secure all necessary regulatory approvals this summer, with the goal of closing the transaction by early fall.