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United Airlines and Continental Airlines have
received clearance from the European Commission on the airlines’
proposed
merger. The Commission noted its investigation found the
proposed transaction would not raise any specific concerns in
Europe or the trans-Atlantic.
“We are pleased to have received this clearance
from the European Union, a significant market for our combined new
company, and we continue to work cooperatively with the U.S
Department of Justice toward an expeditious completion of our
merger, which will benefit our customers, our people, our
shareholders and the communities we serve,” said Glenn Tilton, UAL
Corporation chairman, president and CEO.
Jeff Smisek, Continental’s chairman,
president and CEO, added, “The combination of United and Continental
brings together the two most complementary networks of any U.S.
carriers, with minimal domestic and no international route
overlaps. Together we will offer customers unparalleled global
access.”
The companies announced their plans for an
all-stock
merger in May and expect the transaction to
close in the fourth quarter of 2010.
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