Continental Pilots Vote in Favor of Increasing Merger Funds

HOUSTON, March 10 /PRNewswire-USNewswire/ -- Today, Continental Pilots voted in favor of an assessment that will increase funding amounts to bolster their merger fund. Capt. Jay Pierce, the leader of the local Continental pilots' union, represented by the Air Line Pilots Association said, "The ratification of the measure shows that pilots at Continental Airlines are preparing themselves in the event the Airline becomes engaged in a potential merger". The money from the assessment would be added to funds already in the union's merger war chest. "If Continental management announces its intent to merge with another airline, we'll be ready," Pierce said.

"If we determine that a merger is designed for the benefit of airline executives, Wall Street financial groups and legal firms at the expense of pilots, airline employees and the flying public, we will use all lawful means necessary to ensure the completion of that transaction is unsuccessful, " declared Capt. Pierce. He continued, "We have invested a substantial part of our lives making Continental Airlines what it is today, and we will vigorously fight any action that even hints at destroying that investment."

The pilots union for Continental pilots sent a letter to their company management stating their formal requirements for support of a merger. Among the stipulations are the following:

    1.   Creation of a profitable merged company with sufficient market
         presence and network scope to provide a stable platform for growth
         and sustainable profits.
    2.   Fair and equitable seniority list integration.
    3.   An expedited Collective Bargaining Agreement for the merged company
         with substantial improvements for all pilots.
    4.   Share in the equity of the merged company.

Founded in 1931, ALPA is the world's largest pilot union representing more than 60,000 pilots at 43 airlines in the U.S. and Canada.