Continental Airlines released to its more than 45,000 employees that the Board of Directors has unanimously supported management’s recommendation, not to merge with another airline at this time. Larry Kellner, Chairman and Chief Executive Officer, and Jeff Smisek, President said:
“Our recommendation, and the Board’s careful and considered decision, followed a comprehensive review of our strategic alternatives, assisted by our senior officers and advised by Continental’s outside financial and legal advisors. The Board very carefully considered all the risks and benefits of a merger with another airline, and determined that the risks of a merger at this time outweigh the potential rewards, as compared to Continental’s prospects on a standalone basis.”
