More Airline Merger Madness
Another day, another big merger in the skies: On Monday, Southwest Airlines announced that it had scooped up rival AirTran Airways, the second such acquisition this month after United and Continental joined forces.
Another day, another big merger in the skies: On Monday, Southwest Airlines announced that it had scooped up rival AirTran Airways, the second such acquisition this month after United and Continental joined forces. –KA
TRUTHDIG’S JOURNALISM REMAINS CLEARThe New York Times:
Southwest Airlines, the nation’s largest low-fare carrier, said on Monday that it had agreed to buy its smaller rival AirTran Airways in a transaction valued at $1.4 billion, expanding its foothold in New York and Boston and allowing it to move into the nation’s busiest airport, Atlanta’s Hartsfield-Jackson.
Southwest said the purchase had been approved by the boards of both companies, although it still needs regulatory and shareholder approval. The deal is valued at $3.4 billion when AirTran’s debt and aircraft leases are included.
[…] Domestically, the airline industry has been consolidating and reducing the number of seats offered as it attempts to return to profitability.
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