United-Continental merger to close October 1st

The planned merger between United Airlines and Continental Airlines has been reviewed by the U.S. Justice Department and has been approved.

Glenn Tilton, Chief Executive of United, said the merger is expected to close by October 1st. “We are pleased to have achieved this critical milestone,” Tilton said in a statement.

Announced in May, the merger is still under review by state attorneys general. Both United and Continental have planned September 17 stockholder meetings to vote for approval of the deal. 

The companies have displayed the merger as the coming together of “the two most complementary networks of any U.S. carriers, with minimal domestic and no international route overlaps.”

Together the airlines fly 144 million passengers per year, flying to 370 destinations

Source: MarketWatch