United Airlines and Continental Airlines announced their intentions to merge, in a $3.17 billion stock deal, to create the world’s largest airline. United Airlines will buy Continental’s stock, and Continental shareholders will receive 1.05 shares of United’s stock for each share owned in Continental. The combined company will operate under the United Airlines name but under the Continental logo design and aircraft colors. The merged airline is expected to operate under a single operating certificate by 2012 and is expected to serve more than 144 million passengers per year and fly to 370 destinations in 59 countries.
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