As such, this Agreement accomplishes the following:

It specifies that the managements of Continental and United intend to complete the operational merger of the airlines no later than the first half of 2012.

It preserves the status quo, preventing Continental and United from shifting assets from one airline to another prior to the completion of the merger.

It provides furlough protection for all pilots on the property as of May 2nd, 2010, the date of the merger agreement.

It requires that, if either airline recalls its furloughed pilots and hires new pilots, that airline must offer jobs to the furloughed pilots of the other airline in seniority order.

It lays out a very rapid timeline for completion of the JCBA, with negotiations set to start on or about August 10th, 2010, with the intent of completion eight weeks later, on October 5th, 2010.

gigity...