United Continental Shares Fly On Pilot Union Accord
Posted on December 17, 2012 at 10:58 AM EST
Shares of United Continental Holdings (UAL) rose in nearly quadruple normal volume Monday morning after the carrier announced a new labor agreement with the union representing nearly 12,000 pilots. The agreement ended a two-year labor dispute and removes a hurdle to the combined airlines' growth. United Continental, formed when UAL and Continental Airlines agreed to merge in May 2010, ratified a contract Saturday that provides higher pay,