United and Continental to Lease Slots at Newark Liberty Int. Airport

United and Continental Airlines have reached agreements to lease 18 pairs of take-off and landing slots (roundtrip flights) during peak and off-peak travel times and certain related facilities to Southwest Airlines at Newark Liberty International Airport.

The agreement is intended to address United States Department of Justice concerns related to Continental’s proposed merger with United.

“We think this would be a fair solution that would allow Continental and United to create an airline that will provide customers with an unparalleled global network and top quality products and services, while enhancing domestic competition at Newark,” said Jeff Smisek, Continental’s chairman, president and CEO.

Continental and United currently operate 442 daily roundtrip flights into and out of Newark Liberty. The leasing of the first of the 18 daily slot pairs will begin in late March 2011 and the leasing arrangement will be fully implemented in June 2011.

Update: U.S. Department Of Justice Completes Antitrust Review

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