Sep 27, 2010 9:15 AM by Bea Karnes, News First 5
Southwest Airlines is buying AirTran for about $1.4 billion as it seeks entry into a number of smaller markets. The announcement comes about a week after Continental Airlines and UAL Corp. combined.
The companies said Monday that the new Southwest-Airtran operation would operate from more than 100 different airports and serve more than 100 million customers.
The deal is worth approximately $3.4 billion including AirTran's debt.
Southwest Airlines gets more exposure to existing markets like New York and Boston and it can get into smaller markets it doesn't already serve.