Could it be.....
 

Yes, this was cross posted on the CO board but it's relevant here too.

http://news.ft.com/ft/gx.cgi/ftc?pag...id=FT3OM6DQYYC

Mr Bethune said links between the gradual recovery in demand and the restoration
of capacity had broken down. "That has put a bleaker perspective on the second
quarter." He said that Continental was exploring closer ties with Dutch carrier KLM.
The two carriers share a mutual partner in Northwest Airlines.

Mr Bethune said on Monday he was discussing with KLM how to transform the
short-term tie-up in to a longer term alliance, which could "ultimately" end up as a
fully-fledged joint venture. Such a venture would require antitrust immunity from US
and European regulators.

[This message has been edited by BSL (edited 03-18-2002).]