Continental and United to merge

CONTINENTAL AND UNITED are to merge creating the world’s largest air carrier, sending a powerful message to both domestic and worldwide rivals.  The combined airline will serve more than 144m passengers a year, flying to 370 destinations in 59 countries.  Whilst in recent years United has abandoned New York – London, the busiest long haul international route, concentrating on Chicago, Continental has moved from Gatwick and very effectively promoted Newark New Jersey, across the Hudson from Manhattan, as its hub.  With this merger the pair will overtake Delta, which took over Northwest Airlines two years ago, as the global leader, and relegates American Airlines to third place as far as US carriers are concerned.  Jeff Smisek, Continental’s Chief Executive, will lead the combined company.  Glenn Tilton, Chairman and Chief Executive of United will serve as Non-Executive Chairman of the company until the end of 2012, when he will be succeeded by Mr Smisek.  The deal is expected to complete in the fourth quarter of 2010.  The new airline will be named United Airlines while United Continental Holdings Inc will be the name of the holding company.  The aircraft will be in the Continental livery, logo and colours "with the United name". www.continental.com www.unitedairlines.com

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