US Airways Shareholders Vote on American Merger

Jul 12, 2013

An American jet at on the tarmac at Tulsa International
Credit File Photo-TIA

NEW YORK (AP) — US Airways shareholders approve the proposed merger with American Airlines, one of the final steps remaining in the deal to create the world's biggest airline.

Owners of US Airways Group Inc. stock would get 28 percent of the stock in the combined company, with the rest going to creditors, employees and shareholders of American Airlines parent AMR Corp.

The deal is being reviewed by antitrust regulators at the U.S. Department of Justice. Critics of the merger worry that it will reduce competition and drive up prices.

About 50 members of the Service Employees International Union protested outside the building where the US Airways meeting was held. They are demanding better pay for airport workers.

Copyright 2013 The Associated Press.