Continental Airlines and United merge in $8.5 billion all-stock merger of equals
Client(s) Continental Airlines
Jones Day advised Continental Airlines in its $8.5 billion merger with United Airlines. The all-stock merger of equals brings together two of the world's premier airlines, creating a combined company well positioned to succeed in an increasingly competitive global and domestic aviation industry.
The holding company for the new entity is named United Continental Holdings, Inc. and the name of the airline is United Airlines. The marketing brand is a combination of the brands of both companies.
The combined company will offer enhanced service to Asia, Europe, Latin America, Africa and the Middle East from well-placed hubs on the East Coast, West Coast, Southern and Midwestern regions of the United States. The combined company will have 10 hubs, including hubs in the four largest cities in the United States, and will provide enhanced service to underserved small- and medium-sized communities. The combined carrier will continue to serve all the communities each carrier previously served. Together, Continental and United serve more than 144 million passengers per year as they fly to 370 destinations in 59 countries.
In addition to M&A representation, Jones Day provided benefits, tax, and real estate advice regarding this transaction.