Southwest Airlines confirmed that shareholders of AirTran have overwhelmingly approved the proposed acquisition of AirTran by the carrier. The transaction remains under review by the US Department of Justice and is subject to certain other regulatory clearances.
Southwest anticipates the transaction to close in 2Q2011. Shares in Southwest were up 0.8% while AirTran shares rose 0.5%, on a mixed day for North and Latin American airline stocks
Major movers were Air Canada B Shares, down 3% and Brazilian LCC GOL, which rose 2.5%.
Selected AAD daily share price movements (% change): 23-Mar-2011
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