UAL, Continental reach agreement with their pilots

UNITED AIRLINES and Continental Airlines, ahead of the merger of the two American carriers, say they have reached agreement in principle on a transition and process accord with the pilots of both airlines.

The agreement provides a framework for pilot operations of the two groups until the carriers' operating certificates are combined.

"This is an important step forward that reflects the hard work and collaborative dialogue required to reach this transition agreement that is in the best interest of our new company and our pilots," said Glenn Tilton, United chairman and chief executive officer, who will serve as non-executive chairman of the merged company.

"We are pleased to have reached this important agreement at such an early stage of the integration planning process, as it is a key first step in building a long-term, productive relationship between the combined company and our pilots," said Jeff Smisek, Continental's chairman, president and chief executive officer who will serve as chief executive officer of the combined carrier.

The companies expect to close the merger in the fourth quarter of 2010.
(Source:www.schednet.com)