Con­ti­nen­tal-United merger gets OK from Euro­pean reg­u­la­tors

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

The Euro­pean Com­mis­sion has ap­proved the merger of United Air­lines and Con­ti­nen­tal Air­lines, say­ing it will have only a small ef­fect on the mar­ket share of the two car­ri­ers on lu­cra­tive North At­lantic routes.

The two air­lines have been los­ing sig­nif­i­cant amounts of money, first from high fuel prices, then from the re­ces­sion. United is ac­quir­ing Con­ti­nen­tal through a stock swap deal, and the new air­line is to be called United. U.S. reg­u­la­tory ap­proval for the merger is ex­pected in Au­gust.

Sep­a­rately on Tues­day, the Fed­eral Avi­a­tion Ad­min­is­tra­tion said it is plan­ning a $230,000 civil penalty against Con­ti­nen­tal be­cause it botched a nose wheel re­place­ment on an air­plane in 2008. The fine amounts to $10,454 for each flight be­fore the prob­lem was dis­cov­ered and cor­rected.

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