Tue, Jul 16, 2013
Overwhelming Majority Of Shares Were Voted In Favor Of The Deal
Shareholders of US Airways Group Inc. on Friday approved the merger agreement with AMR Corporation, the parent company of American Airlines, Inc.
The merger agreement was approved by the affirmative vote of the holders of a majority of the outstanding shares of US Airways stock, which represented over 99% of the votes cast by US Airways shareholders on the proposal. Of the 132,788,060 shares voted, 132,273,780 shares voted in favor of the proposal; 257,757 shares voted against; and 256,523 abstained. Shareholders also approved other proposals related to the merger.
Doug Parker, chairman and CEO of US Airways, and incoming CEO of the combined company, said, "We are pleased that our shareholders overwhelmingly supported our merger with American Airlines. This approval is a major milestone on our path to completing the merger, and we continue to make excellent progress overall thanks to the focused efforts of the dedicated representatives from both companies. By bringing together two highly complementary networks and generating significant revenue synergies, the new American Airlines will deliver enhanced value for its shareholders. I want to thank our shareholders, our customers and our more than 100,000 dedicated employees for their support throughout this process and look forward to moving forward as an even stronger airline."
As previously announced, AMR and US Airways agreed to combine to create the new American Airlines. The merger is subject to regulatory approvals, other customary closing conditions and confirmation of AMR's Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of New York. The companies continue to expect to complete the combination in the third quarter of 2013.
More News
Very High Frequency The frequency band between 30 and 300 MHz. Portions of this band, 108 to 118 MHz, are used for certain NAVAIDs; 118 to 136 MHz are used for civil air/ground voi>[...]
Aero Linx: Aviation Suppliers Association Established February 25, 1993, the Aviation Suppliers Association (ASA), based in Washington, D.C., is a not-for-profit association, repre>[...]
Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]
From 2021 (YouTube Version): Colorado Campus Offers aVariety Of Aerospace Entertainment And Education Wings over the Rockies Exploration of Flight is the second location for the Wi>[...]
Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]