United Airlines and Continental Airlines have received unconditional clearance from the European Commission for the airlines’ proposed merger.
The Commission noted its investigation found the proposed transaction would not raise any specific concerns in Europe or in the transatlantic market.
“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,” says Glenn Tilton, UAL Corporation’s chairman, president and CEO.
United Airlines Boeing 767-322ER N644UA is photographed on final approach to London Heathrow Airport
“Approval from the European Commission is another important step toward completing our merger with United,” says Jeff Smisek, Continental Airlines’ chairman, president and CEO. “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 of equals in May and expect the transaction to close in the fourth quarter of 2010.
Related to this story:
- All Continental and United Airport Lounges Are Renamed ‘United Club’
- European Commission Prohibits Merger between Aegean and Olympic Air
- United and Continental Complete Their Merger
- Continental-United Merger to Go Ahead Following Shareholder Approval
- Southwest Will Serve Newark if Continental-United Merger is Approved Soon
