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Airlines Deny Merger Talks

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By Associated Press

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Published: Thu, November 15, 2007 - 11:14 am
Last Updated: Thu, November 15, 2007 - 11:48 am

ATLANTA (AP) - Shares of Delta Air Lines rose four percent, and
United Airlines stock went up one-and-a-half percent after reports
that the two carriers were discussing a possible merger.
After both airlines denied the merger talks, Delta shares closed
up 77 cents at $19.52 in trading yesterday. United shares gained 67
cents, to $44.17.
Delta issued a statement denying "published reports that it had
engaged in merger talk with United." United called the report of
recent talks "wholly inaccurate."
An official speaking on condition of anonymity stood by
assertions about the talks after learning of the denials by Delta
and United.
All airline executives are wrestling with the implication of oil
prices hovering close to $100 a barrel. That has sharply boosted
jet fuel expenses and accelerated a search for ways to cut costs,
which typically results from airline takoevers.
Delta said its board established a special committee to work
with management to review and analyze strategic options for the
airline. Top executives have said recently they are trying to
determine whether consolidation makes sense for Delta.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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