United, Continental Announce Merger
[Guest post by DRJ]
The directors of Continental and United Airlines met today and agreed to merge the airlines:
“United and Continental Airlines are expected to announce Monday morning that they are combining operations to form the world’s largest airline after their boards voted to approve the deal this afternoon, sources said.
The deal is the culmination of a lengthy search by United CEO Glenn Tilton for a partner that would bolster his carrier’s global network and that would promote consolidation in a badly fragmented industry plagued by chronic losses.
Continental CEO Jeff Smisek will be named CEO of the new carrier, while Tilton will move to its board as non-executive chairman for a two-year term, said a person familiar with the deal.
The new airline, to be named United, will retain its world headquarters at 77 W. Wacker Dr. in Chicago, where United currently employs about 700 people, sources said.”
The airlines formed an operational alliance three years ago known as the Star Alliance. Continental had previously rejected a merger over concerns it would lose employees and independence. The merger will reportedly jeopardize some Continental jobs in administration and reservations, but Houston will become United’s largest hub.
— DRJ
Well, there goes another fine airline.
AD - RtR/OS! (45c403) — 5/2/2010 @ 6:40 pmBob Six must be spinning in his grave.
Actually, AD, United and Continental are my two least-favorite airlines.
SPQR (26be8b) — 5/2/2010 @ 6:45 pmI’m with you, SPQR, can’t stand either one of them.
EW1(SG) (edc268) — 5/2/2010 @ 7:06 pm2 airlines that I avoid at all costs merge into 1. Win/win.
JD (c1a2b8) — 5/2/2010 @ 7:44 pmIt probably depends on the part of the country you’re traveling from/to. Continental is the best carrier between most of Texas and Minnesota’s Mayo Clinic. Otherwise I fly Southwest.
DRJ (d43dcd) — 5/2/2010 @ 8:11 pmContinental is very nice we like it a lot.
It’s highly gay for them to use the headquarters in Chicago though I think.
happyfeet (c8caab) — 5/2/2010 @ 8:27 pmDRJ – I use Southwest whenever possible.
JD (c1a2b8) — 5/2/2010 @ 8:36 pmI refuse to fly on Continental. I used to avoid United, now I’ll refuse to fly on them.
PCD (1d8b6d) — 5/3/2010 @ 7:28 amNon-Executive Chairman of the Board, that’s a new one on me.
ropelight (334377) — 5/3/2010 @ 9:01 amMerging two failing airlines to create a larger failing airline. Sure, that will work.
BarSinister (edbc1a) — 5/3/2010 @ 11:28 amThat comment was by Barsinister, not You. What gives?
BarSinister (edbc1a) — 5/3/2010 @ 11:29 amBarSinister – Since the site update when you first post a comment it will apear on your browser as being from “You” and all of your formatting will be missing. If you refresh your page you will see the final form.
Every one else sees the final form from the get go so no one thinks your a moron who can’t format a post. (My concern the first time it happened to me.)
Have Blue (854a6e) — 5/3/2010 @ 10:18 pmOf course you still could be a moron who uses “your” when he means “you’re”.
/facepalm
Have Blue (854a6e) — 5/3/2010 @ 10:19 pm