United, Continental Airlines to merge
Published:Monday | May 3, 2010 | 1:00 PM
US-based United Airlines and Continental Airlines have agreed to merge, creating the world\'s biggest carrier.
The loss-making companies say they expect the deal, worth $3.2 billion to deliver savings of more than $1 billion a year.
The combined group will operate under the United Airlines name.
Continental\'s boss Jeff Smisek will be chief executive of the new company based in Chicago, while United Airlines\' Glenn Tilton will serve as the non-executive chairman.
Together United and Continental currently fly to 370 destinations worldwide, flying 144 million passengers a year.