United and Continental reportedly closer to reaching a deal

One wonders what the impact to air travel will be after reading this AP story that reports United and Continental are closer to reaching a deal to become one...Part of the story:

DALLAS — United Airlines and Continental Airlines Inc. are moving closer to announcing as early as Monday that they will combine to form the world's largest carrier by passenger traffic, according to people familiar with the matter.
Continental's board plans to meet Friday and Sunday to consider a deal, according to one person familiar with the discussions but who was not authorized to speak publicly about it.
Another person briefed on the talks said Thursday that negotiators have agreed that the combined company would be called United, it would be based in United's hometown of Chicago, and run by Continental CEO Jeffery Smisek with United CEO Glenn Tilton as chairman. All those decisions would need approval of both boards.

The impact on the employment numbers will also be of interest to discover if the boards from each airline approve the deal...