Sunday, April 27, 2008

"Best Operated Airline," Continental, Says it No Longer Covets United

The need for consolidation in the airline industry have been outweighed by the increasing problems at United, as Continental announced today that it was backing out of its intended merger with UAL.

"Continental decided to drop the discussions after UAL announced worse-than-expected earnings, which sent shares falling last week. On Tuesday, United said it lost $537 million during the first quarter, on sharply higher costs for jet fuel. The airline, which spent more than three years under bankruptcy protection earlier this decade, said it would cut flights and eliminate a further 1,000 jobs."


1 Comments:

At 2:30 PM, Blogger Paras said...

that sucks
at least delta/nwa still going thru

 

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