AirTran Stockholders Approve Merger With Southwest | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 12.05.16

Airborne 12.06.16

Airborne 12.07.16

Airborne 12.08.16

Airborne 12.02.16

Airborne Hi-Def On YouTube

Airborne 12.05.16

Airborne 12.06.16

Airborne 12.07.16

Airborne 12.08.16

Airborne 12.02.16

Fri, Mar 25, 2011

AirTran Stockholders Approve Merger With Southwest

Deal Currently Expected To Close In Second Quarter of 2011

Stockholders in AirTran Holdings have voted overwhelmingly to approve the merger of a wholly-owned subsidiary of Southwest Airlines with and into AirTran at a special meeting held Wednesday in Orlando, FL.  More than 98.6 percent of the votes cast and 77.5 percent of shares outstanding were voted in favor of the transaction.

"We are grateful for our stockholders' strong vote of confidence in this merger," said Bob Fornaro, AirTran's chairman, president and chief executive officer.  "In approving the transaction, our stockholders recognized the value of bringing together AirTran and Southwest to create a platform for increased profitability and sustainable long-term value."

AirTran and Southwest announced the proposed merger on September 27, 2010.  The companies are awaiting clearance on the proposed merger from the United States Department of Justice.  The merger is currently expected to close by during the second quarter of 2011. The transaction remains under review by the U.S. Department of Justice (DOJ) and is subject to certain other regulatory clearances. Southwest and AirTran continue to operate as two independent companies pending those clearances. Southwest anticipates the transaction to close in the second quarter of this year. Until the acquisition is approved and finalized, both carriers will continue to operate independently.

"We appreciate the confidence AirTran shareholders have in Southwest to continue the good work of AirTran's hardworking Crew Members (employees) who have made AirTran a successful airline over the past 17 years," said Gary Kelly, Chairman, CEO, and President of Southwest Airlines. "This approval is another important and exciting step toward completing the transaction and beginning the integration of AirTran into Southwest to ultimately serve the flying public as one carrier."

The merger wasn't the only news involving Southwest Wednesday. Stock clerks at Southwest Airlines ratified a new, five-year agreement with the company, Capt. David Bourne, Director of the Teamsters Airline Division. "This is a prime example of Teamster power in the airline industry," Bourne said. "Our members have ratified a contract that enhances quality of life and offers peace of mind."

Sixty percent of the work group voted in favor of the contract. 

FMI: www.airtran.com, www.southwest.com

Advertisement

More News

ANN Presents: Bob Hoover Memorial Celebration of Life (11.18.16 -- Special Edit)

Honoring A Great Man, A Great Pilot, A Great American -- and Above All Else… A Great Friend Bob Hoover was, to virtually everyone in the aviation world, the “Pilot&rsq>[...]

Airborne 12.06.16: SpaceX Launching Soon!, 787 AD, DJI Inspire 2

Also: P-51C 'Tuskegee Airmen', Aero-Calendar, EASA Mandate, Master Instructor, 737 MAX Thrust Reverser, LaMia Airline, Flying Colours SpaceX could return to flight by the middle of>[...]

Satcom Direct SD Completes Its Acquisition Of TrueNorth Avionics

Finalization Of The Deal Announced At MEBAA Global aeronautical communications provider Satcom Direct (SD) announced today at MEBAA 2016 that it has closed its purchase of TrueNort>[...]

AD: Fokker Services B.V. Airplanes

AD NUMBER: 2016-24-05 PRODUCT: All Fokker Services B.V. Model F28 Mark 0070 and 0100 airplanes.>[...]

AD: The Boeing Company Airplanes

AD NUMBER: 2016-19-16 PRODUCT: Certain The Boeing Company Model 707-300, 707-300B, and 707-300C series airplanes; and certain Model 727C, 727-100C, and 727-200F series airplanes.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC