UAL seeks another $2 bln cost savings
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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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BAA, the main operator of Britain&#39;s airports, is planning to cut 2,000 jobs in a bid to cut costs after its Spanish owner Ferrovial told its seven British airports to conduct cost and staffing reviews, The Times reported on Thursday.
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United Airlines said yesterday that further job cuts will be necessary as it continues slashing costs in order to get out of bankruptcy.
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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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The pilots at bankrupt UAL Corp.  UALAQ.OB on Monday ratified a tentative labor deal that will  allow United Airlines to save $180 million annually, a  spokesman for the pilots' union said.
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The parent of United Airlines posted a loss of $274 million, or $2.38 a share, compared with a loss of $367 million, or $3.47 a share, a year ago.
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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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Many United Airlines employees face a dimmer career outlook after learning the airline proposes wage cuts, job cuts and pension terminations to help pare $2 billion from annual costs.
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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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UAL Corp. (UALAQ.OB: Quote, Profile, Research) , the bankrupt parent of United Airlines, on Wednesday said it would reduce US flights and increase capacity on more lucrative international
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United Airlines parent UAL (UALAQ:OTC BB - news - research) set plans to cut nonunion workers&#39; pay as part of an effort to slash costs and emerge from bankruptcy protection.
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United Airlines said it will need to cut more than $1 billion from its annual costs, a much higher figure than previous estimates.
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UAL Corp. on Monday won court approval  for wage cuts for United Airlines' pilots and flight attendants  worth $311 million annually, clearing a hurdle in its bid to  exit bankruptcy protection by the year-end.  The rulings by U.S. Bankruptcy Court Judge Eugene Wedoff move  United UALAQ.OB a step closer to achieving $725 million  in  annual labor savings it says it needs to exit Chapter 11.
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Cash-strapped UAL Corp., parent of United Airlines, continues efforts to further cut costs and emerge from bankruptcy.
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A two-hour computer outage affecting dispatch operations at United Airlines, a unit of UAL Corp., delayed nearly 270 domestic and international flights by the No. 2 U.S. carrier on Wednesday.
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UAL Corp, parent of United Airlines, said on Friday it raised fares for domestic flights by $3 each way -- $6 round-trip -- to offset the cost of jet fuel.
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United Airlines hopes to complete a new business plan within two months, including a decision on whether to terminate its pension plans, the company told employees yesterday.