EU approves United Continental merger
July 27, 2010, Brussels, Bel. - The European Commission has approved the merger of United Airlines and Continental Airlines, saying it will have only a small effect on the market share of the two carriers on lucrative North Atlantic routes.
July 27, 2010 By The Associated Press
The European regulatory body said Tuesday that the combination of the two US-based carriers will not give rise to any specific concerns because their passenger and cargo routes between Europe and North America largely overlap.
The two airlines have been losing significant amounts of money, first from high fuel prices, then from the recession.
United is acquiring Continental through a stock swap deal, and the new airline is to be called United.
U.S. regulatory approval for the merger is expected in August, EU officials said.