offered $215 million to buy assets that
agreed to sell to
, according to a report in
The Wall Street Journal
US Air set the DC Air deal earlier this year as part of US Air's pending acquisition by
. The move was designed to limit anticipated antitrust concerns about the concentration of air service in the Washington, D.C., area.
, a unit of UAL, is the largest carrier at Washington's Dulles Airport, while US Air is the largest carrier at Washington Reagan National Airport, the newspaper reported.
Continental's bid is a 52% premium over DC Air's agreed upon price of $141 million, according to the newspaper.
US Air has agreed to sell enough assets to DC Air, a new entity led by entrepreneur Robert Johnson, who is a US Airways board member, to create a new, regional competitor in the market.