Wednesday, December 13, 2006

UAL and Continental in preliminary merger talks - reports

UAL Corp, owner of Ilinois-based United Airlines, is in talks with Continental Airlines on a potential merger, according to various news wire reports.
A Wall Street Journal online report said both companies have held talks for a few months but have sped up the process after the hostile bid made by US Airways Group for Delta Air Line last month.
Separately, the Wall Street Journal said that AirTran Holdings was also on the edge of launching a bid for Midwest Air Group, people familiar with the matter said. The move hints at a growing pressure for consolidation, which have stretched out to smaller carriers.
A Reuters report, citing the New York Times, said Glenn Tilton, chief executive of UAL, and Continental chief Larry Kellner, have held a meeting to talk about a potential deal. However, the talks were said to be preliminary with no expectation of an imminent deal.
An Agence France Press report, citing The Times, said both United Airlines and Continental refused to comment. United's parent UAL Corp and Continental Airlines could not be reached for comments.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home