After years of off-and-on conversation, UAL Corp.'s United Airlines (NASDAQ: UAUA) is getting into bed with Continental Airlines Inc. (NYSE: CAL) in a merger deal valued at $3.7 billion. The merged entity, keeping the "United" name, will be the largest airline in the world. It will have close to $30 billion in combined revenue, 700 aircraft, and service to 370 destinations in 59 countries, according to BusinessWeek. Early estimates predict savings to reach $1 billion to $1.2 billion annually.
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Shares of American Airlines Inc. parent AMR Corp. (NYSE: AMR) soared as high as 23.7% in early morning trading today (Thursday) after the company announced it raised $2.9 billion in liquidity to hunker down for the typically slow winter travel season and possibly acquire a majority stake in a Japanese airline. The new liquidity includes […]
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. Sprint-Deutsche Telekom Merger Talk Surfaces; EU Projects 3Q and 4Q Growth; Source: J&J and Elan Restructuring Deal; Chevron Cashing in on Asia Gas Demand; Citi Downgrades Potash and Mosaic; Eli […]