The U.S. Justice Department has signed off on the proposed merger between United and Continental airlines. The announcement, which came late Friday afternoon, "[lifts] the biggest regulatory hurdle to the creation of the world's top airline,"
The New York Times writes.
The
Chicago Tribune adds that Justice's blessing comes "after an unexpectedly speedy four-month review. The decision paves the way for the mega-merger to close before Thanksgiving."
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United, Continental agree to give Southwest access to Newark Liberty
The Wall Street Journal also gets a jump on the story, writing "federal antitrust regulators said Friday that the Justice Department's 'thorough review' found that the airlines 'largely complementary networks' would result in an overlap on only a limited number of routes, and closed its investigation into the deal. The department said the transfer of Newark slots to Southwest 'resolves' its principal competition concerns, and concluded that the combination will likely significantly benefit consumers."
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ORIGINAL POST (6:05 p.m. ET): In another story just crossing the news wires,
The Associated Press reports "United and Continental airlines are a big step closer to their proposed combination, with the Justice Department saying it has no more antitrust concerns about the deal. On Friday, the two airlines said they would lease takeoff and landing slots in Newark to Southwest Airlines. The Justice Department says that clears up its main competitive concern. Shareholders at the two airlines are set to vote on the deal on Sept. 17."