UAL Corp. announced that the Department of...

UAL Corp. announced that the Department of Transportation has approved the sale of 50% of United’s Apollo computer reservations business. The business will be owned and operated by a joint venture known as Covia Partnership, which will include United’s Covia Corp. and five airlines: Alitalia, British Airways, KLM Royal Dutch, Swissair and USAir. Chicago-based UAL, the parent company of United Airlines, will receive $500 million as a result of the transactions soon. United will continue to own 100% of Covia Corp., which will retain a 50% interest in the joint venture. Covia Corp. will be the managing partner.