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Empresas y finanzas

UAL CEO Smisek says merger integration on track


    CHICAGO (Reuters) - Combining operations of United Airlines and Continental Airlines is on track and should be completed by year's end, the company's chief executive said on Wednesday.

    Jeff Smisek told shareholders that United Continental Holdings is moving toward a single designation by the Federal Aviation Administration (FAA).

    The companies closed their $3.17 billion merger last October, hoping that the combination with sprawling domestic and international route networks will attract lucrative corporate travel contracts.

    United hopes to realize more than $1 billion in annual revenue benefits and cost savings by 2013.

    A central focus of integration is combining work groups at the two carriers, including pilots who picketed the company's annual shareholder meeting on Wednesday.

    Efforts at reaching a joint pilot contract are "nowhere near on schedule" and until a deal is done "this merger cannot be considered anything close to a success," said Wendy Morse, chairman of United's chapter of the Air Line Pilots Association.

    (Reporting by Kyle Peterson, editing by Dave Zimmerman)