United Airlines and Continental Airlines Agree to Merger, Create World’s Biggest Carrier

United Airlines and Continental Airlines have agreed to a merger deal that is reportedly worth $3.2 billion and will create the world’s biggest carrier.

As part of the deal the new group will carry the name United Airlines but display the Continental Airlines colors. The new company will be based in Chicago with Continental’s Jeff Smisek holding the position of CEO while United Airlines’ Glenn Tilton will hold the position of non-executive chairman.

By saving more than a billion dollars a year Tilton described the merger as “great... for our customers, our employees, our shareholders and our communities.”

The new group has not detailed how the merger will affect jobs but with a combined 86,000 employees a reduction in staff is expected.

The merger still needs to be approved by shareholders as well as competition regulators before the deal is complete.

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