Combining operations of United Airlines and Continental Airlines (UAL.N) is on track and should be completed by year's end, the company's chief executive said on Wednesday. Jeff Smisek told shareholders that United Continental Holdings is moving toward a single designation by the Federal Aviation Administration (FAA). The companies closed their $3.17 billion merger last October, hoping that the combination with sprawling domestic and international route networks will attract lucrative corporate travel contracts. United hopes to realize more than $1 billion in annual revenue benefits and cost savings by 2013.
United Continental Holdings, Inc. (UAL), formerly UAL Corporation, is a holding company and it?s, wholly owned subsidiaries are United Air Lines, Inc. Shares of UAL traded higher by 2.97% or $0.65/share to $22.55. In the past year, the shares have traded as low as $18.42 and as high as $29.75. On average, 7484840 shares of UAL exchange hands on a given day and today's volume is recorded at 3314372.
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