(WSB Radio) The merger between AirTran and Southwest Airlines is one step closer to completion.
By a solid margin, AirTran's shareholders have agreed to be taken over by Southwest. Nearly 99% of shareholders cast votes, and 78% approved the takeover.
"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."
The deal between the two discount carriers was announced last September, and the merger is expected to be completed within the next three months, pending approval by the Justice Department.