American Airlines Loses Court Appeal Regarding Delta Airport Slots: Report

After surrendering the rights of two airport slots to Delta Air Lines, Inc. DAL in 2013, American Airlines Group Inc AAL lost a court appeal to have the European Union revoke those rights.
In order to obtain antitrust clearance for its merger with US Airway, American Arline forfeited the takeoff and landing privileges at Heathrow and Philadelphia airports. Delta was chosen by the European Union to occupy the slots, reported Reuters.
The EU Court of Justice (CJEU), rejected American's claims that Delta had violated its obligation to regularly use the slots.
"The text of the final commitments does not establish a specific number of frequencies that should be operated by the prospective entrant to ensure effective competition," the judges ruled, according to the report.
Price Action: AAL shares are trading lower by 0.42% at $14.06 and DAL is lower by 1.07% at $33.35 premarket on Friday.