Continental, United Close Merger Deal

UnitedContinental Airlines (CAL) and UAL Corp (UAUA), owner of United, closed their merger deal Friday, creating the world's largest air carrier, called United Airlines.

The new holding company, United Continental Holdings, will begin trading today on the New York Stock Exchange under the ticker "UAL," Reuters said.

Sponsored Links
Jeff Smisek, formerly CEO of Continental, will serve as CEO of the new company. Former UAL CEO Glenn Tilton will serve as non-executive chairman.

"You're going to be very pleased as a traveler. Your travel experience is going to be a good one," Smisek told The Houston Chronicle.

Passengers flying Continental will continue to check in with Continental. The same applies for United customers, The Associated Press reported. The two frequent-fliers programs will also remain separate for now.

The new company will be based in Chicago. The deal was first announced in May.
Read Full Story

Markets

NASDAQ 6,586.83 -42.23 -0.64%
S&P 500 2,564.98 -10.23 -0.40%
DJIA 23,273.96 -54.67 -0.23%
NIKKEI 225 21,696.65 239.01 1.11%
HANG SENG 28,305.88 -181.36 -0.64%
DAX 13,003.14 11.86 0.09%
USD (per EUR) 1.17 0.00 -0.03%
USD (per CHF) 0.98 0.00 -0.12%
JPY (per USD) 113.37 -0.68 -0.59%
GBP (per USD) 1.32 0.00 0.10%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.