US Airways Group Shareholders Ok Merger With American Airlines - Quick Facts

(RTTNews) - US Airways Group, Inc. (LCC) announced that its shareholders approved the merger agreement with AMR Corp. (AAMRQ.PK), the parent company of American Airlines, Inc.

US Airways noted that 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 132.79 million shares voted, 132.27 million 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.

In mid-February, AMR Corp. and US Airways Group, said they agreed to merge to create the world's largest airline that will have an implied combined equity value of about $11 billion. AMR and some of its subsidiaries, including American Airlines and American Eagle, had filed for Chapter 11 bankruptcy protection in November 2011.

Together, American Airlines and US Airways are expected to operate a mainline fleet of almost 950 aircraft and employ more than 100,000 team members worldwide.

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.