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BUSINESS
November 2, 1989 | DENISE GELLENE, TIMES STAFF WRITER
A company controlled by New York corporate raider Saul P. Steinberg sought government permission on Wednesday to buy more than 15% of UAL Corp. shares, a move that could spark another round of takeover turmoil for the parent of United Airlines. Steinberg, a veteran of takeover battles for Walt Disney Co. and Penn Central Corp., had no comment on why his Reliance Group Holdings wants to accumulate UAL shares. UAL also had no comment.
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BUSINESS
October 24, 2008 | TIMES WIRE SERVICES
US Airways Group Inc. said it lost $865 million in the third quarter as the carrier struggled with an up-and-down swing in fuel prices. The loss was the worst among the major carriers during in the quarter, topping United Airlines parent UAL Corp.'s $779-million loss reported this week. Oil prices dominated the Tempe, Ariz.-based carrier's balance sheet and swung it to a loss for the fourth straight quarter. Fuel was not only the carrier's biggest expense, but US Airways also took a second hit in fuel hedging as oil prices dropped from their July peak of $147 a barrel.
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BUSINESS
October 21, 1989 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp. shares dropped more than $21 Friday, one day after British Airways said it would not support a revised bid for the parent of United Airlines. UAL closed at $168.50 in trading on the New York Stock Exchange as Wall Street grew pessimistic about a potential buyout. The airline's stock price has fallen $116.50 a share since financing of the $6.75-billion plan for an employee-management buyout collapsed a week ago.
BUSINESS
October 22, 2008 | Times Wire Services
United Airlines parent UAL reported a $779-million third-quarter loss Tuesday, one of the worst quarters for an airline. In the same quarter, it suffered from expensive jet fuel and accounting charges because of falling oil prices. The nation's second-biggest carrier said capacity cuts and charges for things such as checking luggage should help make it profitable again. Those fees are here to stay, said John Tague, United's chief operating officer. He said customers have been frustrated as they get used to that, but the business has to be run in a way to make a profit.
BUSINESS
February 16, 1993 | From Times Staff and Wire Reports
UAL Forms Aircraft-Leasing Unit: UAL Corp., parent of United Airlines, has announced the formation of a subsidiary to lease new and used airplanes that are no longer needed by United. Spokesman Joe Hopkins said the date of the subsidiary's launch has not been set. He declined to discuss details.
BUSINESS
September 20, 2003 | From Bloomberg News
United Airlines parent UAL Corp., the largest U.S. airline ever to file for bankruptcy protection, won a five-month extension of the deadline for submitting its recovery plan to the court. Bankruptcy Judge Eugene R. Wedoff in Chicago agreed to give UAL a second extension, which means the carrier retains until March 6 the exclusive right to file a reorganization plan. This precludes creditors and others from submitting competing proposals.
BUSINESS
September 9, 2008 | Tom Petruno, Times Staff Writer
Information can live in cyberspace forever. And that cost some investors in United Airlines parent UAL Corp. a load of money Monday. Shares of UAL briefly plummeted as low as $3 early in the day -- from $12.30 on Friday -- after a 6-year-old story on the company's 2002 bankruptcy filing resurfaced on the Web and was reported as news by an investment letter. The shares bounced back after the market realized the report wasn't current. But investors who sold at the day's lows are stuck: The Nasdaq Stock Market, where UAL stock is listed, said trades triggered by the erroneous report wouldn't be rescinded.
BUSINESS
July 12, 2008 | From Times Wire Services
United Airlines parent UAL Corp. said it would record $2.6 billion to $2.7 billion in accounting charges in the second quarter, according to a regulatory filing. The largest chunk is a noncash impairment charge of $2.2 billion to $2.3 billion. The filing said UAL was writing off the "entire value of goodwill on its books." Officials were unavailable to elaborate.
BUSINESS
June 7, 2008 | From Times Wire Services
United Airlines will offer buyouts to 600 senior flight attendants as the carrier scales back service in response to soaring prices for fuel. The agreement with the Assn. of Flight Attendants-CWA calls for severance payments based on years of service, as well as travel benefits, said United, the primary subsidiary of UAL Corp. The union told members in a letter that the "early out" offer is the first for United attendants since the 1980s. It affects 3.5% of the labor group's 17,000 members at the Chicago-based carrier.
BUSINESS
March 28, 2008 | From Times Wire Services
UAL Corp., parent company of United Airlines, must pay $27.2 million to bondholders who helped finance the renovation of its San Francisco International Airport facilities, a federal judge ruled. United lost its attempt in a 2006 ruling in Bankruptcy Court to reduce the amount by roughly $7.5 million. U.S. District Judge John Darrah in Chicago upheld a lower court's opinion.
BUSINESS
January 23, 2008 | From Times Wire Services
United Airlines parent UAL Corp. reported a $53-million loss for the fourth quarter Tuesday on a sharp rise in the price of fuel and bad weather that forced a raft of holiday flight cancellations. The loss was less than expected but nevertheless reflected the damage that high oil and jet fuel costs are doing to the bottom line of the nation's second-largest carrier and other U.S. airlines. Chief Executive Glenn Tilton, who has long expressed interest in pairing United with another airline, was mum about talks widely reported to be underway with Delta Air Lines Inc., which is looking at potential combinations with United or Northwest Airlines Corp.
BUSINESS
November 23, 2007 | From Times Wire Services
UAL Corp., parent of No. 2 U.S. carrier United Airlines, is keen for a possible merger, according to an article in the Dec. 3 edition of BusinessWeek that cited industry experts. Pardus Capital Management, a New York-based hedge fund that owns a stake in UAL and Atlanta-based Delta Air Lines, is pushing for a merger of the second- and third-largest U.S. carriers, according to recent media reports.
BUSINESS
November 9, 2007 | From Times Wire Services
United Airlines, a unit of UAL Corp., said it would add a surcharge of $5 each way to tickets for most domestic flights to offset the price of jet fuel. It said the charge would be incorporated into fares for travel within the U.S., except Hawaii.
BUSINESS
October 20, 2007 | From Times Wire Services
American, Northwest and US Airways joined other major airlines in raising most U.S. round-trip fares by as much as $20 as jet fuel prices near record highs. The fare hikes were initiated Wednesday by United Airlines. Six of the seven largest U.S. carriers have joined in the increase. Only Southwest Airlines held the line on fares. The price of jet fuel has climbed 37% this year and is $2.43 a gallon in New York. The price hit $2.49 in September 2005.
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