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HOUSTON, April 1, 2010 /PRNewswire via COMTEX/ -- Continental Airlines (NYSE: CAL) and United Airlines (NASDAQ: UAUA)

PR representatives from both airlines released joint after market press releases. In a slot swap deal inked today, Continental will open a hub at Los Angeles International airport while releasing slots at San Fransisco International Airport and Chicago's O'Hare International Airport.

While the details have yet to be completely ironed out, both airlines have been eager to release information on the next phase of UA/CO cooperation. Continental will take over all UA operations at LA, consolidating all United, and United Express flights under the CO brand. This consolidation includes domestic and international flight. CO will continue to operate UA's flights to Tokyo and Sydney on Boeing 777-200ER aircraft that Continental expects to take delivery of in the coming months.

United will take over all Continental operations in Chicago and San Fransisco. This will allow United to consolidate two hubs and close the focus city at LAX.

CEO's for both companies have praised the deal as new era in US commercial air travel. This deal will insure seamless travel for passengers going through those three airports. The deal will also reduce operations costs and increase profits.