Airline consolidation in plan

Delta and United Air Lines are planning to get together as the hedge fund Pardus Capital Management that owns 3 million shares, or 1.3%, of Delta and 5.6 million shares, or 5%, of United requested the two companies for a merger to tackle the rising oil prices.

Pardus Capital said that the increase in oil price can go up to 55% in the coming year and the companies will have to handle it alone if they are not merged up.

The Delta CEO Richard Anderson refused to the merger news and said that there have been no discussions on merger plan between the two companies. The share prices of the two companies are raising as the citations of merger was floating in market.