The Chicago Sun-Times is reporting that a merger between United and Continental could be finalized by Sunday. According to the Sun-Times, both airlines have agreed on a deal, and simply need their respective board of directors to approve it. United’s board is expected to vote today, with Continental’s slated to vote Sunday.
But approval is hardly a sure thing. Continental’s board rejected a similar deal with United two years ago, citing concerns about United’s financial stability. United is in much better shape now, which seems to make a vote of approval more likely. The Wall Street Journal adds that both carriers appear to be “back on track” after a disagreement over the price of the deal earlier this week.
So, will next week begin with United-Continental usurping Delta’s reign as the world’s largest carrier? It’s certainly possible, if not probable. There appears to be a very strong drive, on both United and Continental’s part, to get a deal done. And considering there’s likely millions awaiting both CEOs if a deal goes through, you can bet they’ll keep pushing for a resolution. Stay tuned.
Readers, do you think a deal would be a good thing for the industry?