Senate committee to examine United/Continental merger
(Reuters) - A Senate subcommittee is set to examine the proposed airline deal between United Airlines and Continental Airlines on Thursday that will study the implications for airline consumers.
United is a unit of UAL Corp.
The Subcommittee on Antitrust, Competition Policy and Consumer Rights will examine the proposed airline merger between United and Continental on May 27, according to a Senate website.
Also on Thursday, the Senate committee on Commerce, Science and Transportation will examine the financial state of the airline industry and the implications of consolidation.
On May 3, United Airlines, a unit of UAL Corp, said it will buy Continental for about $3.17 billion in an all-stock deal that will form the world's largest carrier.
Antitrust experts believe the Justice Department will clear the deal since there is little overlap of common routes and no shared hubs. Antitrust enforcers, experts said, could require some divestiture to enhance competition.
SAN FRANCISCO - Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite stiff competition in its third-largest market. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.