United and Continental Form Broad Marketing Alliance

Bloomberg:

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United, Continental to Form Alliance to Share Flights (Update3)

By Mary Schlangenstein and Mary Jane Credeur

June 19 (Bloomberg) -- UAL Corp.'s United Airlines and Continental Airlines Inc. will form an alliance to book seats on each other's planes and create joint ventures for overseas flights. Their shares surged the most since January.

Continental also will join United's Star marketing alliance and seek approval to set international fares and schedules with carriers including Deutsche Lufthansa AG, the airlines said in a statement today. Continental will leave the SkyTeam alliance. [Full Article]