(Crain’s) United Airlines and Continental Airlines are close to a deal that would create the world’s largest airline, based in Chicago with Continental’s Jeff Smisek as CEO and United boss Glenn Tilton as chairman, according to media reports late Thursday.
The airlines contemplate a stock-for-stock merger creating a company with combined market value of more than $6 billion, Bloomberg News reported, citing people with knowledge of the talks. United’s Chicago-based parent UAL Corp. has a current valuation of about $3.6 billion, compared with about $3 billion for Houston-based Continental.
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