United and Continental to merge

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Continental Airlines and United Airlines are merging to form a new airline, to be called United Airlines, with Continental’s livery, logo and colours.

The new company will have ten hubs, including hubs in the four largest US cities. The combined company will also continue to provide service to all of the communities that Continental and United currently serve, which encompasses 370 destinations in 59 countries.

United and Continental are both members of Star Alliance, the airline network.

The merger is due to be completed in the fourth quarter of 2010 and is expected to produce $1.0 billion to $1.2 billion in annual savings by 2013.

The new company’s corporate and operational headquarters will be in Chicago and it will maintain a significant presence in Houston, which will be the combined company’s largest hub.

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