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| Version | User | Scope of changes |
|---|---|---|
| Apr 28 2008, 12:24 PM EDT (current) | jimglab | 217 words added |
| Apr 28 2008, 12:23 PM EDT | jimglab |
Changes
Key: Additions Deletions
Company rules out a combination with United – or anyone else
Some media outlets had been predicting that Continental and United would unveil a merger as soon as this week, but on Sunday afternoon (April 27), Continental put that speculation to rest by announcing it has decided not to pursue a merger “at this time” with any other airline. In a message to employees, Continental said the decision not to merge was recommended by management and backed by the board of directors at a special meeting on Sunday. “The Board very carefully considered all the risks and benefits of a merger with another airline, and determined that the risks of a merger at this time outweigh the potential rewards, as compared to Continental’s prospects on a standalone basis,” Continental said. The company noted that Continental has “significant cultural, operational and financial strengths compared to the rest of the industry, and we want to protect and enhance those strengths – which we believe would be placed at risk in a merger with another carrier in today’s environment.” The company did say that it will continue to “review potential alliances and our membership in SkyTeam. We are considering alternatives to SkyTeam as we carefully evaluate which major global alliance will be best for Continental over the long term.”
