Investors OK America West-US Air Merger
{{#rendered}} {{/rendered}}America West Holdings Corp. (AWA) said on Tuesday that a shareholder vote on its proposed merger with bankrupt US Airways Group Inc. (search) showed 95.5 percent approval.
America West said it expected to close the deal in late September.
"With US Airways final bankruptcy court hearing scheduled for later this week, we anticipate closing our merger with US Airways at the end of September as previously scheduled," America West Chief Executive Doug Parker said in a statement.
{{#rendered}} {{/rendered}}America West, the No. 8 U.S. carrier, announced the deal in May. The merger would create the largest U.S. low-cost carrier.
The combined company, which will be called US Airways, will achieve cost savings partly from staff reductions and by reducing its fleet by 60 aircraft.
America West shares were down 2 cents at $7.30 on the New York Stock Exchange.