AP source: Continental and United to combine to form world's largest carrier
Joshua Freed, AP Airlines Writer, On Sunday May 2, 2010, 6:04 pm
MINNEAPOLIS (AP) -- A source with knowledge of the situation tells The Associated Press that directors at both Continental and United airlines have voted to combine their carriers into what would be the world's largest airline.
The Sunday actions were described by a person with knowledge of the votes, who declined to be identified because the companies plan an announcement on Monday.
The combined airline will be called United, based in United's hometown of Chicago, and run by Continental CEO Jeffery Smisek. United CEO Glenn Tilton will be chairman.
The deal will need the approval of antitrust regulators.
United is the nation's third-largest carrier by traffic. Continental, in Houston, is the country's fourth biggest.