The statement indicated that on a pro forma basis, the new company would have annual revenues of approximately 29 billion dollars based on 2009 financial results, and an unrestricted cash balance of approximately 7.4 billion dollars as of the end of first quarter 2010, including United's recently closed financing transaction.

As United and Continental are both members of Star Alliance, the world's largest airline network, the combination also brings together the two most complementary networks of any U.S. carriers, with minimal domestic and no international route overlaps.

The combined company will have 10 hubs, including hubs in the four largest cities in the United States, continuing to serve all the communities each carrier currently serves.

Together, Continental and United serve more than 144 million passengers per year as they fly to 370 destinations in 59 countries.

Buoyed by the combination, the United stock in NASDAQ opened at 22.31 dollars per share, rising 3.3 percent or 71 cents on Monday morning.