Continental Airlines and United Airlines shareholders overwhelmingly voted to merge on September 17, paving the way for the creation of the world's biggest airline. More than 98 percent of both companies' voters supported the deal, which was cleared by the US authorities late last month, Continental and United said in separate statements.
"We are grateful for our stockholders' strong vote of confidence in this merger," Continental CEO Jeff Smisek said.
"In approving the transaction, our stockholders recognised the value of bringing together Continental and United to create a platform for increased profitability and sustainable long-term value." United CEO Glenn Tilton said: "There is much work ahead as we bring these two companies together, pulling the best from both of our companies, and building on the work we have each done to strengthen our airlines."
Continental and United announced an all-stock merger of equals on May 3, and it is currently expected to close by October 1. The new airline will serve more than 144 million passengers per year with 370 destinations in 59 countries.
The two boards are hoping to generate combined annual savings and new revenues of up to 1.2 billion dollars by 2013. United and Continental both had a turnover of more than three billion dollars in 2009 but each reported losses.
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