CLEVELAND, OH (WOIO) - United Airlines and Continental Airlines have agreed to a merger of equals, creating the world's leading airline featuring superior service to customers, expanded access to an unparalleled global airline network, improved long-term career prospects for employees, and a platform for improved profitability and sustainable long-term value for shareholders.
The new planes will have 'United' written on the side with Continental's colors and log.
The huge move in the airline industry is leaving some worried what it will mean for Cleveland's job generating Hopkins Airport
Local officials say they have no reason to think the Continental Airlines merger with United will cost Cleveland jobs, but that's not stopping them from banding together to make sure the city isn't short changed.
"We will protect our interests even though we've had a great relationship over the years it is business and we will also be looking out for our interests," said Cleveland Mayor Frank Jackson. "The proposed merger will require the approval of the Department of Justice and the Department of Transportation."
"I have a long experience with anti-trust issues and I'm watching this very carefully to determine whether or not this city's interests are going to be determined," said Rep. Dennis Kucinich (D) 10th District.
The all-stock merger of equals brings together two of the world's premier airlines, creating a combined company well-positioned to succeed in an increasingly competitive global and domestic aviation industry.
The combination of Continental and United brings together the most complementary networks of any two U.S. carriers, with minimal domestic and no international overlap. Together, Continental and United serve more than 144 million passengers per year.
The combined company will be the world's leading airline, offering customers superior benefits and services, and offering employees improved long-term career opportunities. It is also expected to offer investors compelling financial synergies. Read the entire press release here.
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