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U.S. airlines are projected to post $4 billion in profits for 2010, the chairman of the newly formed United Continental Holdings said Wednesday.
Speaking to an industry group in Washington, D.C., Glenn Tilton said the United Continental balance sheet needs a ”tremendous amount of deleveraging” and that it may be time to focus on making balance sheets more resilient.
The carrier has about $9 billion in cash. Get the full story »
United Airlines said Wednesday it had gained federal approval to begin daily flights from Los Angeles to Shanghai in little more time than it takes to fly between the two cities.
The speedy review of United’s request, completed a day after the Chicago carrier asked for permission to launch the new China service next year, is in contrast to the lengthy lobbying battles over access to China’s booming market that played out during the 1990s and in the 2000s.
Earlier this month, the U.S. Department of Transportation had needed just six days to approve a request by American Airlines to fly from Los Angeles to Shanghai. Get the full story »
United Airlines said September traffic rose 7.6 percent, and a key revenue measure rose too. The airline said the revenue collected for each available seat flown one mile rose 13.5 percent to 14.5 percent compared with September 2009. Not counting regional flights on partner carriers, the same revenue measure rose 14 percent to 15 percent.
Flight attendants with Continental Airlines Inc said they will not participate in contract talks with their peers at United Airlines, according to a report in Bloomberg.
United flight attendants had said in an exchange of letters they would have more leverage if they worked together, according to Bloomberg.
Representatives for Continental and for Association of Flight Attendants could not be immediately reached for comment. Get the full story »
Continental Airlines CEO Jeff Smisek walks through Terminal C of Houston Intercontinental Airport to catch a flight to Chicago on Sept. 23, 2010. (Tribune)
United Airlines closed its merger with Continental Airlines Friday to create the world’s largest airline, called United Airlines. The stock begins trading this morning under the symbol UAL. The holding company formed from the all-stock merger will be called United Continental Holdings Inc.
The two airlines will begin marketing as one company in the spring. In the meantime, travelers will see United employees at United kiosks and Continental employees at Continental kiosks, depending on which carrier is handling the flight.
The company is working to combine frequent flyer programs. In a call with reporters, Smisek underscored, “your miles are safe.” Get the full story »
Bloomberg News | A federal judge in California denied a request that he enjoin the merger of UAL Corp. with Continental Airlines Inc. on antitrust grounds, according to a ruling in San Francisco late yesterday.
