Originally Posted by HeathrowGuy
From what I understand, NWA gets to block: i) any potential change of control of Continental; ii) acquisition by Continental of another major airline. The alliance agreement effectively "does the rest" with respect to keeping CO on lockdown, by requiring CO to remain a member of the same global alliance as NWA, a requirement for three years' advance notice if either party intends to dissolve the alliance, etc.
Northwest and Continental have a unique relationship; Skyteam ties the airline down a little too; a three year notice period to leave the alliance seems reasonable to me.