United Says It Must Cut Costs an Additional $500 Million
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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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Bankrupt United Airlines (UALAQ.OB: Quote, Profile, Research) said on Friday it needs 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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United Airlines parent UAL Corp. will need about $500 million more in annual cost cuts above the $655 million in the works now as well as pension cost savings to emerge from bankruptcy, the carrier said on Friday.
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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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United Airlines warned yesterday that it would need to cut a further $2 billion from its annual costs in an effort to return the airline to profitability and attract external financing to exit bankruptcy.
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United Airlines is mulling plans to cut 6,000 jobs -- or 10 percent of its work force, according to the Financial Times. The move would allow the bankrupt carrier to cut annual operating costs by $655 million.
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United Airlines on Friday said it will  need about $500 million in annual cost cuts above the $655  million now in the works and also received court approval for  more time to develop a reorganization plan without interference  from creditors.
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Struggling US Airways (UAIR) has asked its pilots to accept a 16.5% pay cut while giving them the chance to recoup some of the money by flying more.
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Travelers will have to pay up to $10 more for a roundtrip ticket on UAL Corp's  United Airlines and $14 more on Continental Airlines , as the airlines seek to offset the rising cost of jet fuel.
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CHICAGO -- United Airlines said yesterday further job cuts will be necessary as it continues slashing costs to get out of bankruptcy.
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United Airlines on Friday said it will need about $500 million in annual cost cuts above the $655 million now in the works and also received court approval for more time
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CHICAGO -- United Airlines said Wednesday that it needs to cut more jobs as it works on climbing out of bankruptcy. But the nation&#39;s No.
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The union for United Airlinesâ flight attendants promised Friday to fight the company âover every dimeâ of its plan to impose an additional $725 million
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Pay and benefits are included in the proposal to pare another $2 billion in annual costs. United Airlines, still trying after two years to emerge from bankruptcy, officially proposed terminating its employee
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US Airways Group Inc. probably will need more cost cuts or a boost in revenue to attract the &#36;250 million in equity it says it needs to leave bankruptcy next year, the company said on Thursday.
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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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The bankrupt airline says it must slash costs by January, or else it may not survive. It is currently losing $1 million a day.