Shareholders Approve American-US Airways Merger
US Airways shareholders have voted to 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 are protesting outside the building where the US Airways meeting is being held. They are demanding better pay for airport workers.In a statement Friday, Justin McLaughlin, the Senior Vice-President of the Tulsa Regional Chamber, said: "We congratulate our partners at American Airlines on the US Airways shareholder's approval of the merger. Working with Governor Mary Fallin, Tulsa Mayor Dewey Bartlett, the Tulsa County Commission, and other regional partners, the Tulsa Regional Chamber looks forward to maintaining an effective partnership with the newly formed company in effort to encourage the company's positive position to grow and continue investments in the Tulsa region."