ELK GROVE VILLAGE, Illinois (Reuters) - Shareholders of United Airlines parent UAL Corp <UAUA.O> and Continental Airlines Inc <CAL.N> approved the merger of the two companies on Friday to form the world's largest air carrier.More than 98 percent of the votes cast by Continental's shareholders approved UAL's $3.17 billion all-stock purchase of Continental during a special meeting in Houston. UAL investors approved the deal at a meeting in a suburb of Chicago."We would have a company that would be an...Read Full Story
CHICAGO/NEW YORK (Reuters) - UAL Corp, parent of United Airlines, will buy Continental Airlines Inc for $3.2 billion, forming the world's largest carrier in a merger that further shrinks the embattled U.S. airline industry and could drive up air fares, sources said on Sunday.The boards of directors of both companies unanimously approved the deal, which was expected to be announced by the carriers on Monday morning, sources familiar with the discussions said. UAL and Continental declined to...Read Full Story
Big airlines keep getting bigger. In a long-anticipated deal, United Airlines and Continental have agreed to merge -- creating the world's largest airline, serving 370 destinations.
Glenn Tilton, chairman, president and chief executive officer of UAL Corp., will serve as non-executive chairman of the combined company's Board of Directors through December 31, 2012, or the second anniversary of closing, whichever is later. Jeff Smisek, Continental's chairman, president and chief executive...Read Full Story
United Airlines and US Airways both reported much smaller quarterly losses on Tuesday, helped by returning business travelers and higher fares.They were the last of the big airlines to report first-quarter results. All of the carriers, except Southwest, lost money. But most saw revenue improve in a way that suggests airlines are making a strong exit from last year's sharp travel downturn.That was especially true at United parent UAL Corp. Its planes were fuller and it collected more money...Read Full Story
NEW YORK (Reuters) - United Airlines and Continental Airlines <CAL.N> need to merge to be profitable in competing with low-cost and foreign carriers, executives of the two U.S. major airlines said on Thursday."Today, international competitors have emerged and powerful new entrants have continued to gain ground," Glenn Tilton, chief executive of UAL Corp's <UAUA.O> United, said during a hearing of the U.S. Senate Commerce Committee."The merged Continental/United will allow us, as a U.S. carrier, to compete...Read Full Story
CEO Glenn Tilton has been the chief executive officer of UAL Corp since 2002. He is 58 years old. Follow Mr. Tilton and UAL Corp in the news and blogs or share your own opinion about the company and its leadership.