United Seeks More Cost Cuts From Unions
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Bankrupt United Airlines said on Friday it needs more labor cost cuts on top of any gains from terminating employee pensions and expects to move toward voiding its labor contracts in early November.
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In CHICAGO story headlined &quot;UPDATE 1-United Airlines seeks $500 mln more in cost cuts&quot; please read in paragraph 4 ... The $500 million figure would be over and above savings realized if United terminates and replaces its pension funds ... instead of .
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SAN FRANCISCO (CBS.MW) - UAL Corp., the bankrupt parent of United Airlines, is seeking to slash another $2 billion in operating costs as it struggles to overcome record-high fuel costs and the lowest airfares in over a decade.
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UAL Corp. (UALAQ.OB: Quote, Profile, Research) , parent of United Airlines, said on Monday it would cut employees&#39; salaries as it looks to make savings and emerge from bankruptcy protection.
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United Airlines, the bankrupt carrier, on Tuesday made its first progress in efforts to achieve a second round of labour cost cuts when it said it had reached a tentative agreement
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United Airlinesâ union leaders huddled Friday to decide how to respond after the company signaled its intent to impose an additional $725 million in labor cuts and eliminate traditional pension plans.
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UAL Corp.&#39;s United Airlines, the world&#39;s second-largest carrier and Denver&#39;s dominant airline, plans job cuts and other cost reductions totaling $655 million, a 4.8 percent increase
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United Airlines formally raised the possibility of throwing out union contracts on Friday, asking a bankruptcy judge for permission to discuss the matter at an upcoming court hearing.
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United Airlines said on Friday that it would need about $500 million more in annual cost cuts, in addition to the $655 million now planned.
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United Airlines&#39; union leaders huddled Friday to decide how to respond after the company signaled its intent to impose an additional $725 million in labor cuts and eliminate traditional pension plans.
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UAL Corp's United Airlines said on Monday it will charge some passengers a fee to check more than one bag, a move that could generate $100 million annually as the carrier attempts to offset soaring fuel costs.
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CHICAGO United Airlines says it will need even more labor cuts than anticipated to get out of bankruptcy. United told a bankruptcy court judge in Chicago today that it intends to start talks with unions next month on a new round of cost savings.
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The head of UAL Corp.&#39;s United Airlines on Thursday said the airline&#39;s restructuring plan would lead to a significant number of job losses, but it was not yet clear how many.
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An expert says the agreement probably will make it easier to reach cost-cutting deals with the ailing carrierâs other unions. United Airlines is making headway in its efforts to trim labor costs by $725
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United Airlines is moving to obtain another $725 million in labor concessions and eliminate employees&#39; traditional pensions as it seeks the financing to come out of bankruptcy.
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The head of UAL Corp.'s United  Airlines said on Thursday the airline's restructuring plan  would lead to a significant number of job losses, but it was  not clear how many.
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CHICAGO United Airlines has revealed it needs to cut 500 (m) million dollars more in costs than previously stated. The disclosure, filed yesterday, was not mentioned during a previously scheduled hearing this