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Continental bids for DC Air

Monday, Oct. 9, 2000 | 11:10 a.m.

HOUSTON -- Continental Airlines Inc. offered to buy DC Air, the US Airways Group Inc. unit expected to be split off in its acquisition by UAL Corp.'s United Airlines, for $215 million in cash.

Continental's Chairman and Chief Executive Gordon Bethune made the offer Oct. 2 and sent a follow-up letter today saying that he was "disappointed" that he hadn't received a response. Continental spokesman Ned Walker confirmed that his airline sent the letters.

The move by Continental comes as US Airways and United try to persuade the U.S. Department of Justice that their combination doesn't violate antitrust laws. US Airways shareholders are scheduled to vote on the merger on Thursday and the two carriers are looking to combine by early next year.

The price offered would be in excess of 50 percent more than the $141 million that US Airways board member Robert Johnson, the founder of Black Entertainment Television, offered to pay for DC Air. UAL and US Airways hoped the sale of DC Air, including gates at Washington Reagan National Airport, would address antitrust concerns.

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