Connecting Flights

United's union with US Airways sets off a frenzy of merger maneuvering

Maybe you didn't hear it, but somebody turned on the merger music box and set it at Mach 1. Airlines that not long ago were cutting fares are now assembling investment bankers to run the numbers on newfound objects of desire. United Airlines was the first on the dance floor when it announced on May 24 that it was buying US Airways--a union that would enlarge what is currently the world's largest airline.

Soon American Airlines began talking with Northwest Airlines, which already owns a slice of Continental Airlines. Yet Continental was rumored to be making eyes at TWA. But analysts...

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