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Continental Airlines said Monday that it reached a labor contract with negotiators for about 7,000 union employees.
The fleet-service employees, represented by the Teamsters union, will hold a ratification vote in the coming weeks.
Terms were not disclosed. Get the full story »
Moody’s Investors Service raised its ratings on UAL Corp. a notch, finishing the review of the airline it begun when the parent of United unveiled its deal to merge with Continental Airlines Inc. Get the full story »
The $4.9 billion sale of human resources specialist Hewitt Associates to Aon was approved by the shareholders of both companies Monday.
The buyout is still subject to regulatory approval. Get the full story »
The proposed merger of United Airlines and Continental Airlines cleared its first regulatory hurdle on Tuesday, as the European Union said it would approve the deal. But the merger, which would create the largest airline in the world, must still pass muster with U.S. antitrust officials. The mega-deal is expected to face far more rigorous scrutiny from the U.S. Department of Justice, which isn’t expected to wrap up its probe until later this year.
European officials, in a review of the transaction that began on June 21, quickly determined that it wouldn’t adversely affect competition, given the relatively light overlap between United and Continental on trans-Atlantic routes.
However, the EU continues to separately investigate a proposed joint venture that would allow United, Continental, Air Canada and Germany’s Lufthansa AG to closely coordinate north Atlantic flights, as well as share revenues.
From Broadcasting & Cable | In public hearing Tuesday in Chicago, rival cable operators, an independent programmer and a former FCC commissioner lined up to oppose the proposed merger of Comcast and NBC Universal.
By Julie Johnsson | Will the United-Continental merger fly with antitrust regulators?
The two airlines intend to formally link operations to form the world’s largest carrier by the close of the year. First, they’ll have to convince state and federal regulators that their new behemoth won’t harm consumers by hiking prices or dominating competitors.
