The ease with this is that Delta doesn't have to buy Continental. There are no antitrust issues and a wider base of flights and destinations.

By allowing Delta to merge with Continental or Northwest, we would have three extremely large airlines accounting for 75 percent of market. But it would be harder for American and United to dominate Delta if Delta were to merge.

raises a variety of antitrust concerns.

We think Intel's antitrust issue is something to be concerned about, but it's only a No. 3 or No. 4 issue.

It looks like the airlines are going to get free rein to do whatever they want. Buying an airfare is confusing enough now. This could make it even more confusing.

Yahoo is certainly coming closer to that.