A proposed joint venture between Air Canada (ACa.TO) and United Continental Holdings (UAL.N) would hurt Air Canada's customers and the Canadian economy, the country's competition watchdog said in documents made public on Tuesday. In June, the Competition Bureau appealed to the Competition Tribunal to have the joint venture scrapped on antitrust grounds. In the documents released on Tuesday, Commissioner Melanie Aitken said the venture would lead to reduced service at higher prices, undermining the efficiency and adaptability of the Canadian economy. Air Canada and United are already in an alliance agreement in which they co-ordinate seat sales, fare structures, discounts and marketing campaigns on transborder routes.
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 0.86% or $0.16/share to $18.75. In the past year, the shares have traded as low as $15.92 and as high as $29.75. On average, 7518330 shares of UAL exchange hands on a given day and today's volume is recorded at 4803983.
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