Continental to review alternatives to make sure it remains competitive
"As we've said repeatedly for more than a year and a half, our preference has been to remain independent as long as the competitive landscape remained the same," said Continental Chairman and Chief Executive Larry Kellner and President Jeff Smisek in a message to employees. "However, the landscape is changing."
There are reports that Continental has been talking to United Airlines, a unit of UAL Corp., about a potential tie-up. In addition, the airline plans to review its continued participation in the alliance with Northwest, Delta and SkyTeam. Shares on Continental fell 6.9% to $20.38.