United to Ground More Planes, Cut Jobs, Shut Ted Low-Fare Unit
UAL Corp.'s United Airlines, the world's second-largest carrier, will ground 70 additional planes, cut as many as 1,100 more jobs and shut its low-fare Ted unit to help counter record fuel costs.
The reductions, which will take place this year and next, add to 30 aircraft taken out of service and 500 management job cuts the Chicago-based carrier announced in April. United is taking the actions to overcome an expected $3 billion increase in jet-fuel expense, the carrier said today.
