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 -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.22.24

Airborne-Unlimited-04.16.24

Airborne-FlightTraining-04.17.24 Airborne-AffordableFlyers-04.18.24

Airborne-Unlimited-04.19.24

Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at
www.airborne-live.net

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

SpaceX to Launch Inversion RAY Reentry Vehicle in Fall

Inversion to Launch Reentry Vehicle Demonstrator Aboard SpaceX Falcon 9 This fall, the aerospace startup Inversion is set to launch its Ray reentry demonstrator capsule aboard Spac>[...]

Aero-News: Quote of the Day (04.23.24)

"We are excited to accelerate the adoption of electric aviation technology and further our journey towards a sustainable future. The agreement with magniX underscores our commitmen>[...]

Aero-News: Quote of the Day (04.20.24)

"The journey to this achievement started nearly a decade ago when a freshly commissioned Gentry, driven by a fascination with new technologies and a desire to contribute significan>[...]

ANN's Daily Aero-Linx (04.20.24)

Aero Linx: OX5 Aviation Pioneers Each year a national reunion of OX5 Aviation Pioneers is hosted by one of the Wings in the organization. The reunions attract much attention as man>[...]

Aero-News: Quote of the Day (04.21.24)

"Our driven and innovative team of military and civilian Airmen delivers combat power daily, ensuring our nation is ready today and tomorrow." Source: General Duke Richardson, AFMC>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC