Economy

CHICAGO — United Airlines and Continental Airlines Inc. are on track to close a merger on Oct. 1 that would create the world’s largest airline based on passenger volume, after shareholders endorsed the union Friday.

WASHINGTON — The Metropolitan Washington Airports Authority is considering options to trim the new $3.83 billion estimated cost of the Metrorail extension project’s second phase in order to reduce the amount of debt that will be needed.

The Port Authority of New York and New Jersey last week committed $1 billion toward revamping or replacing the Bayonne Bridge.

New Jersey Transit will suspend for 30 days new contracts and work on a new passenger-rail tunnel that will run under the Hudson River between New Jersey and Manhattan, as the federal government believes the project may cost an additional $1 billion.

DALLAS — Dallas Area Rapid Transit lost its AAA rating from Standard & Poor’s Friday as analysts assigned DART’s upcoming $825 million bond deal a AA-plus.

The Puerto Rico Public-Private Partnerships Authority announced its short list of four consortiums Wednesday that may submit proposals in a potential long-term lease agreement involving the island’s busiest toll road.

SAN DIEGO — The future of toll roads in California lies largely in managed lane projects, according to participants at a conference here this week.

DALLAS — Utah officials are facing questions about their role in a $13 million settlement with a losing bidder on the expansion of the Interstate 15 freeway in Salt Lake County, which will be funded with a record $1.25 billion bond issue next week.

DALLAS — Dallas Area Rapid Transit will issue $825 million of bonds supported by sales tax and farebox revenue next week under a resolution adopted Tuesday by the DART finance committee.

CHICAGO — The Regional Transportation Authority of Illinois board on Wednesday tapped its chief financial officer, Joe Costello, to serve as interim executive director beginning next month until a replacement for retiring director Stephen Schlickman is found.

DALLAS — Michael Cheroutes, a Denver attorney and expert in public finance, will guide Colorado’s search for new highway funding mechanisms as the first director of its High Performance Transportation Enterprise agency.

SAN FRANCISCO — The San Diego County Regional Airport Authority will sell $417 million of subordinate-lien bonds next week to fund part of a $1.4 billion overhaul at San Diego International Airport.

Virginia last Friday scuttled a potential public-private partnership for the Port of Virginia, ending the chance for a private company to operate the port.

The amount of debt that will be issued to build a new state hospital in New Orleans could be pared by $55 million to $100 million of expected additional federal reimbursements for hurricane damage to shuttered Charity Hospital.

Moody’s Investors Service on Friday placed a negative outlook on the Metropolitan Atlanta Rapid Transit Authority’s long-term rated debt.

Atlanta Mayor Kasim Reed on Monday appointed Louis Miller as the new general manager at Hartsfield-Jackson Atlanta International Airport.

New Jersey Gov. Chris Christie Tuesday unveiled pension and health care reform measures that would help curb the state’s unfunded liabilities while passing more of those costs on to employees.

DALLAS — Harris County, Tex., is bringing $140 million of toll road refunding bonds to a market that appears ready to reward issuers bearing strong credit ratings.

Fitch Ratings assigned a negative outlook and affirmed its BBB rating on $77 million of revenue bonds issued for Mercy Medical Center, a 340-bed hospital located in Canton.

Michigan could issue $40 million of one-year debt to secure up to half the necessary funds to avoid losing $475 million in federal highway funds next year. The proposed transportation budget includes $84 million needed to avoid losing the federal money.