Continental Airlines has decided not to merge with another carrier

. "The risks of a merger at this time outweigh the potential rewards, as compared to Continental's prospects on a standalone basis," according to a statement issued Sunday by CEO Larry Kellner and president Jeff Smisek. Kellner and Smisek said the airline is "considering alternatives" to its current SkyTeam alliance affiliation" and Reutersreported that Continental is "in advanced talks with British Airways and American Airlines about a potential alliance, with plans to seek antitrust immunity." Evidently rebuffed by Continental, United Airlines CEO Glenn Tilton issued a statement a few hours later. "Consolidation is underway; ensuring you have the right partner is everything," he said. "We will pursue all options." Press and analyst reports now speculate that United may look to merge with US Airways, a combination proposed at the beginning of the decade then withdrawn amid regulatory scrutiny.