Page last updated at 16:27 GMT, Monday, 3 May 2010 17:27 UK

United and Continental bosses' press conference on merger

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US-based United Airlines and Continental Airlines have agreed a deal to merge, creating the world's biggest carrier.

The loss-making companies said they expected the deal, worth $3.2bn (£2.1bn), to deliver savings of more than $1bn a year.

The bosses of Continental and United, Jeff Smisek and Glenn Tilton, held a joint press conference to discuss the implications of the merger.

The United-Continental merger still has to be approved by shareholders and competition regulators and will need the agreement of unions.

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