There are two facts that could potentially facilitate a shift in alliances for CO:

1. United is essentially required to "approve" the US Airways-America West merger under the terms of its codesharing agreement with US Airways. If this approval is withheld, then the codesharing agreement can be terminated, and US subsequently removed from the Star Alliance.

2. Continental has not sought, and apparently does not intend to seek, inclusion into the SkyTeam Transatlantic or Transpacific Antitrust Immunity arrangements.