Continental and United provide commitment to Cleveland
13-Sep-2010 Continental Airlines (NYSE: CAL) and UAL Corporation (NASDAQ: UAUA), the holding company whose primary subsidiary is United Airlines, today reaffirmed their commitment to Cleveland, agreeing to maintain specified levels of air service at Cleveland Hopkins International Airport when the two airlines combine their global networks upon closing of their proposed merger.
Continental and United made the commitment in an agreement with the Ohio Attorney General, whose office has been reviewing the merger. The carriers believe the merger, which has been cleared by the U.S. Department of Justice and European Commission, will enhance competition and entered into the agreement in the interests of bringing about an expeditious completion of the Attorney General's review.
Continental and Cleveland have a long partnership and this agreement is evidence that the partnership will continue after the merger. The carriers believe the merger will deliver air service for Cleveland and its other hubs that will be far superior to the service that the carriers could have provided if they had not combined. Cleveland and Northeast Ohio customers will benefit from same-carrier service to more than 350 destinations worldwide, improved flight connections across a combined global network and a more valuable frequent flyer program.
United and Continental would like to acknowledge the efforts of the Ohio Attorney General Richard Cordray, Mayor Frank Jackson and the Cleveland Air Service Working Group, which the Mayor co-chairs along with Bill Christopher, chairman of the Greater Cleveland Partnership; and the support of Governor Ted Strickland; U.S. Senators Sherrod Brown and George Voinovich, and members of the Northeast Ohio Congressional Delegation.
Continental and United announced an all-stock merger of equals on May 3, 2010. Both companies have scheduled special stockholder votes on the merger on Sept. 17, 2010.