SAN FRANCISCO, July 26, 2016 /PRNewswire/ -- Virgin America Inc.
(NASDAQ: VA) today announced that the merger agreement with Alaska
Air Group, Inc. (NYSE: ALK), the parent company of Alaska
Airlines, Inc., was approved by an affirmative vote of the holders
of a majority of the outstanding shares of Virgin America voting
common stock. A report reflecting the complete voting
results will be available on a Current Report on Form 8-K to be
filed later this week by Virgin America.
On April 4, 2016, Virgin America
and Alaska Airlines announced they had reached an agreement to
combine to create the premier airline for West Coast travelers.
The two airlines anticipate they will obtain regulatory
approvals and complete the transaction in the fourth quarter of
2016.
About Virgin America
Known for its mood-lit cabins,
three beautifully designed classes of service and innovative
fleetwide amenities — like touch-screen personal entertainment,
WiFi and power outlets at every seat, Virgin America has earned a
host of awards since launching in 2007 — including being named the
"Best Domestic Airline" in Travel + Leisure's World's Best Awards
for the past nine consecutive years and "Best U.S. Airline" in
Condé Nast Traveler's Readers' Choice Awards for the past eight
consecutive years. For information,
visit www.virginamerica.com.
About Alaska Airlines
Alaska Airlines, a subsidiary
of Alaska Air Group (NYSE: ALK), together with its partner regional
airlines, serves more than 100 cities through an expansive network
in the United States, Canada, Costa
Rica and Mexico. Alaska
Airlines ranked "Highest in Customer Satisfaction Among Traditional
Carriers in North America" in the
J.D. Power North American Airline Satisfaction Study for nine
consecutive years from 2008 to 2016. Alaska Airlines' Mileage Plan
also ranked "Highest in Customer Satisfaction with Airline Loyalty
Rewards Programs" in the J.D. Power Airline Loyalty/Rewards
Program Satisfaction Report for the last three consecutive years.
For reservations, visit www.alaskaair.com. For more news and
information, visit the Alaska Airlines newsroom
at www.alaskaair.com/newsroom.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking
information about Alaska Airlines, Virgin America and the proposed
transaction. Forward-looking statements are statements that are not
historical facts. These statements can be identified by the use of
forward-looking terminology such as "believe," "will, "expect,"
"may," "likely," "should," "project," "could," "plan," "goal,"
"potential," "pro forma," "seek," "estimate," "intend" or
"anticipate" or the negative thereof, and may include discussions
of strategy, financial projections, guidance and estimates
(including their underlying assumptions), statements regarding
plans, objectives, expectations or consequences of announced
transactions and statements about the future performance,
operations, products and services of Virgin America and/or Alaska
Airlines. Alaska Airlines and Virgin America caution readers not to
place undue reliance on these statements. These forward-looking
statements are subject to a variety of risks and uncertainties.
Consequently, actual results and experience may differ materially
from those contained in any forward-looking statements. Such risks
and uncertainties include: the possibility that the closing
conditions to the proposed transaction may not be satisfied or
waived, including that a governmental entity may prohibit, delay or
refuse to grant a necessary regulatory approval; delay in closing
the transaction or the possibility of non-consummation of the
transaction; the occurrence of any event that could give rise to
termination of the merger agreement; the risk that stockholder
litigation in connection with the contemplated transaction may
affect the timing or occurrence of the contemplated transaction or
result in significant costs of defense, indemnification and
liability; risks inherent in the achievement of anticipated
synergies and the timing thereof; risks related to the disruption
of the transaction to Virgin America and its management; the effect
of announcement of the transaction on Virgin America's ability to
retain and hire key personnel and maintain relationships with
suppliers and other third parties; labor costs and relations,
general economic conditions, increases in operating costs including
fuel, inability to meet cost reduction goals, an aircraft accident,
and changes in laws and regulations. These risks and others
relating to Alaska Airlines and Virgin America are described in
greater detail in their respective SEC filings, including (i) as to
Alaska Airlines, Alaska Airlines' Annual Report on Form 10-K for
the fiscal year ended Dec. 31, 2015,
as well as in other documents filed by Alaska Airlines with the SEC
after the date thereof, and (ii) as to Virgin America, Virgin
America's Annual Report on Form 10-K for the fiscal year ended
Dec. 31, 2015, as well as in other
documents filed by Virgin America with the SEC after the date
thereof. Alaska Airlines and Virgin America make no commitment to
revise or update any forward- looking statements in order to
reflect events or circumstances occurring or existing after the
date any forward-looking statement is made.
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SOURCE Virgin America