Continental, United Close Merger Deal

Hugh Collins
Updated
United
United

Continental 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.

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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.

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