Virgin America (San Francisco) says a majority of its shareholders have approved a planned merger with Alaska Air Group, Inc., the parent company of Alaska Airlines, Inc.
In April this year, Alaska Air Group agreed to pay USD57 per Virgin America share bringing the overall value of the transaction, inclusive of existing Virgin America indebtedness and capitalized aircraft operating leases, to approximately USD4 billion.
The two airlines anticipate they will obtain regulatory approvals and complete the transaction in the fourth quarter of this year.
