Continental Stockholders Approve Merger

Merger currently expected to close by October 1

By Continental Airlines
September 17, 2010

HOUSTON, Sept. 17, 2010 – Continental Airlines announced that its stockholders voted overwhelmingly to approve the merger of a wholly-owned subsidiary of UAL Corporation with and into Continental at a special meeting held today in Houston, Texas. UAL Corporation’s primary subsidiary is United Airlines. More than 98 percent of the votes cast and 75 percent of shares outstanding were voted in favor of the transaction.

“We are grateful for our stockholders’ strong vote of confidence in this merger,” said Jeff Smisek, Continental’s chairman, president and chief executive officer. “In approving the transaction, our stockholders recognized the value of bringing together Continental and United to create a platform for increased profitability and sustainable long-term value.”

Stockholders of UAL Corporation also voted to approve the merger today at a meeting held in Chicago, Illinois.

Continental and United announced an all-stock merger of equals on May 3, 2010. The companies have received clearance on the proposed merger from the United States Department of Justice and the European Commission. The merger is currently expected to close by Oct. 1, 2010.

About Continental Airlines

Continental Airlines is the world’s fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,700 daily departures throughout the Americas, Europe and Asia, serving 132 domestic and 137 international destinations. Continental is a member of Star Alliance, which overall offers more than 21,200 daily flights to 1,172 airports in 181 countries through its 28 member airlines. With more than 40,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per year. For more company information, go to continental.com.

Copyright © 2010 - Continental Airlines

Share |
| | |