U.S. Justice Department Clears United-Continental Merger

Good news for all fans of the United-Continental merger - the U.S. Department of Justice today cleared one of the last obstacles in the way to an on-time merger in early October of this year. The antitrust probe was closed after Continental and United agreed to transfer take-off and landing rights as well as other assets at Newark Liberty Airport to Southwest Airlines, the Justice Department said in a statement

The combined company, which will fly under the United name and the Continental logo (see picture on above), would be larger than Delta Air Lines, which became the country's largest airline when it merged with Northwest Airlines in 2008. The new United is expected to serve more than 144 million passengers per year and fly to 370 destinations in 59 countries.

Now, only the two airlines' shareholders will need to approve the merger. The vote will take place next month.

To read the CNN Money story, please click here.