NEW YORK — US Airways and American Airlines moved closer to creating the world's biggest airline Friday, as US Airways shareholders overwhelmingly approved their proposed merger.
Shareholders of US Airways Group Inc. would get 28 percent of the shares in the combined company, with the rest going to creditors, employees and shareholders of American Airlines parent AMR Corp.
US Airways said that 132,273,780 shares were voted in favor of the merger while 257,757 shares were voted against it. Another 256,523 abstained.
The merger is still being reviewed by antitrust regulators at the U.S. Department of Justice. It also needs the approval of American's creditors the judge overseeing the airline's bankruptcy proceedings.