Southwest Airlines & AirTran Merger
An announcement has been made by Southwest Airlines regarding its buyout of AirTran Holdings for roughly $1.4 billion. The mutual agreement is now awaiting the approval of the regulatory board and the stockholders.
The merger would employee around 43,000 employees with about 685 planes that would fly to over 100 airports worldwide, but most of which will be in the US. According to Southwest CEO Gary Kelly, AirTran would be operating under one operation certificate while its corporate activities will be merged. The headquarters, however, would be retained in Dallas. Kelly said that the merging plans have been brewing for years now with Bob Fornaro, the CEO of AirTran. Moreover, he mentioned that today is the right time to go with their well-prepared plans.
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