CHICAGO — On Monday, United Airlines CEO Scott Kirby shared his perspective on why a potential merger with American Airlines could be advantageous for passengers, despite American’s lack of interest in negotiating.

Kirby expressed in a press release, “I was confident that this merger, focused on expansion rather than reduction, could create an exceptional airline that customers would truly appreciate, and that it could gain regulatory approval. Unfortunately, American was not open to discussions and chose to publicly dismiss the idea.”

Speculation around a possible merger caused a surge in the stock prices of both airlines two weeks ago, following reports that Kirby had brought the proposal to the attention of the White House. While Kirby confirmed he had approached American directly, it remains unclear whether this outreach occurred before or after his discussions with government officials.

Shortly after the Washington meeting, American Airlines firmly rejected the merger proposal.

In an April 17 press release, American Airlines stated, “We are not involved in or interested in any merger talks with United Airlines.” The company further argued that such a merger would be detrimental to competition and consumers, potentially leading to antitrust issues.

It’s worth noting that American Airlines, headquartered in Fort Worth, Texas, was itself created through a merger with US Airways Group in 2013.

President Donald Trump also said last week that he was against a merger of the airlines.

In his press release Monday, Kirby argued that a merger between the iconic airlines would expand service, create a globally competitive airline and boost the U.S. economy by creating millions of jobs and strengthening the aircraft manufacturing sector.

Shares of Chicago-based United shares fell 1.4% on Monday, to $91.72. They are down about 20% since the war in Iran began in late February, sending fuel prices soaring. American shares were down 2% in morning trading Monday, to $11.84. American is down about 15% since the war began.