Southwest Airlines 737-300. Photo: By Rob Finlayson. US Dept. of Justice said Tuesday it has approved Southwest Airlines' acquisition of AirTran Airways, clearing the way for the transaction to close on May 2. SWA last September announced an agreement to acquire Orlando-based AirTran for $1.4 billion in cash and SWA common stock in a deal that brings together the world's largest LCC with the third largest LCC in North America. All other necessary approvals except DOJ's had ...

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