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United-Continental deal said to be near
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United Airlines and Continental Airlines are getting closer to a merger agreement and would like to wrap up a deal by the end of next week, people with direct knowledge of the discussions said Friday.
The negotiations, which have been underway for months, accelerated after Delta Air Lines and Northwest Airlines announced a $3 billion deal April 14 that would create the nation's biggest carrier.
The talks between United and Continental are in an advanced stage, the people who had been briefed on them said. They requested anonymity because the talks were private.
The two airlines would like to be finished by Thursday, the sources added, although the negotiations could hit delays.
As with Delta and Northwest, United and Continental would like to win regulatory approval before President Bush leaves office rather than risk delays that could take place under a new president.
Continental is getting ready to provide details of any possible deal, at least if its Web page is any indication.
The Houston-based airline has posted a link on its home page to a new part of its site that looks as though it can quickly be transformed into a merger information page.
The page went live April 15, Continental spokesman Dave Messing said Friday, but only began getting attention this week. He declined to comment further.
Shares of United's parent, UAL Corp., fell 19 cents Friday, to $15.21; Continental closed at $17.22, down 46 cents.
NEW YORK TIMES
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We are coming down ..
To about three major airlines ... United will take over Continental, American is in talks to acquire US Airways and of course our ill fated … read more NWA-Delta nightmare. Ya .. consolidation and letting the free market reign are really gonna work out for consumers .. aren't they.
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