May 27, 1988 |
United Airlines said Thursday that it has ordered 30 Boeing 757-200 airliners and taken options on 30 more in a deal that is worth more than $2 billion and is notable for the fact that United will lease, not own, the planes. It was the third recent large order for Boeing aircraft: Ten days ago, International Lease Finance of Beverly Hills ordered 100 planes of various types and took options on another 24. The aircraft-leasing firm reportedly will pay about $4.6 billion for the 124 planes.
May 5, 1988 |
United Airlines' pilots union offered Wednesday to buy the airline and its parent company for $110 a share cash in a deal that would be worth $4.06 billion. The offer, which is contingent on the union's success in winning a lawsuit it filed against the company last week, was contained in a letter from William R. Howard, chairman of Airline Acquisition Corp., to Stephen M. Wolf, chairman, president and chief executive of Chicago-based Allegis. Airline Acquisition Corp.
May 4, 1988 |
United Airlines is likely to toughen smoking restrictions on its airliners soon, its chairman said Tuesday, extending the current federally mandated smoking ban during domestic flights of two hours or less to some longer flights. Stephen M. Wolf, head of both United and its parent company, Allegis Corp., said in a speech to members of the Society of American Business Editors and Writers here that the two-hour ban is too short and "awkward."
May 3, 1988 |
Allegis Corp., the parent company of United Airlines, said Monday that it will sell 49.9% of its computerized reservation system to USAir and four European airlines for just under $500 million. Allegis, which will change its name back to UAL Inc. later this month, will retain control of the system through its Covia Corp. subsidiary, which will hold 50.1%. (The company's name was UAL for many years but was changed to Allegis in 1987.
April 29, 1988 |
Allegis Corp., parent of United Airlines, Thursday reported earnings of $27.9 million from continuing operations in the first quarter of 1988, contrasted with a loss of $54.5 million in the same period a year ago. Largely because of Allegis' sale of its Westin Hotels & Resorts subsidiary, the corporation's overall net earnings rose to $576.9 million in the first quarter from a loss of $30.5 million in the 1987 quarter. The net earnings included a gain of $548.9 million on the sale.