Continental Applauds ATSB Decision To Deny Loan To UAL Monday June 28, 1:15 PM EDT HOUSTON (Dow Jones)--Continental Airlines Inc. (CAL) said the federal government's decision to deny a $1.1 billion loan to United Airlines parent UAL Corp. (UALAQ) earlier Monday was "the most appropriate course of action" to " allow the marketplace to determine the shape of the industry." In a press release Monday, the Houston-based carrier applauded ATSB's decision and said "private invesment and further structural change -- rather than government intervention -- can position UAL for success in this difficult environment." As earlier reported, the rebuff came two years after UAL first applied for government aid, leaving the nation's No. 2 airline looking for new sources of funding and possibly delaying its emergence from bankruptcy originally planned for later this year. In its statement, Continental Air also said UAL's efforts to reduce costs and generate additional revenue have made the airline a stronger competitor. Roger EWROPS