Shareholders at US Airways approve merger with AA

July 13, 2013 at 1:30 PM

TEMPE, Ariz., July 13 (UPI) -- U.S. Airways said 99 percent of its shareholders voted to approve a merger with American Airlines, which would create the largest U.S. carrier.

Regulators in Washington and in Europe are scrutinizing the deal based on antitrust concerns, The New York Times reported Saturday.

The concern is that the airline would be so large it would dictate prices and less competition would hurt consumers.

The Government Accountability Office, a bipartisan accounting research office and not a regulator, has concluded the merger would reduce competition in more markets than has occurred in previous airline mergers.

The GAO released its findings in June, the Times said.

American Airlines went into bankruptcy in November 2011, but based on its size a merger between AA and US Airways would give U.S. Airways shareholders 28 percent of the combined company, the Times said.

US Airways Chairman and Chief Executive Officer W. Douglas Parker said Friday at a shareholder meeting the combined businesses would operate 6,500 flights daily. He said customers and shareholders would benefit from a merger.

Related UPI Stories
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'