November 1, 2006 |
The parent of United Airlines posted a second straight quarterly profit Tuesday for the first time in six years, a $190-million gain that lifted the longtime industry laggard near the top of U.S. carriers for profitability in the third quarter. UAL Corp. overcame soaring fuel expenses with the help of higher fares and lower costs as the result of its three-year bankruptcy restructuring, which concluded in February.
September 30, 2006 |
United Airlines parent UAL Corp. extended Glenn Tilton's term as president, chairman and chief executive for an additional four years, rewarding him for steering the nation's No. 2 airline through bankruptcy proceedings and back to profitability. Tilton, whose original five-year contract had been set to expire next September, will be paid $850,000 a year through Sept. 1, 2011, according to a regulatory filing by the Elk Grove Township, Ill.-based company.
September 26, 2006 |
Shares in United Airlines' parent company, UAL Corp., rose after a published report that it had retained Goldman Sachs Group Inc. to explore strategic options, including possible mergers with other carriers. Goldman Sachs is expected to help United assess the value of its domestic and international holdings, advise it on sales or purchases of domestic or international routes and scout for mergers, according to Crain's Chicago Business, citing unidentified people close to United.
August 19, 2006 |
For business travelers, security measures that followed the exposure of an alleged plot to destroy airplanes over the Atlantic ushered in a painful scenario: flights without readily available bottled water, no duty-free gifts for friends and associates and grueling journeys without a John Grisham novel from the airport bookstore. Some of those restrictions have been relaxed, such as the one on books, but many remain in place.
August 1, 2006 |
United Airlines parent UAL Corp. formally announced Monday its first true quarterly profit since 2000, punctuating a turnaround quarter for U.S. carriers despite record fuel prices. Like its competitors, UAL benefited from higher fares and more crowded planes as paying customers didn't flinch in the face of a series of fare increases in the first half of 2006. The five largest U.S. airline companies to have reported so far posted a collective profit of $1.
July 25, 2006 |
United Airlines parent UAL Corp. said Monday that it would post its second consecutive quarterly profit after exiting bankruptcy protection as higher fares and more passengers boosted sales. The preliminary results exceeded analysts' estimates, and the company's shares rose. UAL said it expected second-quarter net income of $119 million, or 93 cents a share, after a loss of $1.43 billion a year earlier, mostly because of reorganization costs.
June 17, 2006 |
UAL Corp., the parent company of United Airlines, is considering San Francisco among cities where it might relocate its corporate headquarters, an airline spokesman said. The carrier, which operates half of the flights at San Francisco International Airport, discussed a possible move last week with airport and city officials.
May 9, 2006 |
United Airlines parent UAL Corp., which exited bankruptcy protection three months ago, said Monday that its first-quarter loss widened as spending for fuel jumped by a third to a record. UAL had a loss of $306 million excluding a bankruptcy accounting benefit, compared with a $302-million loss a year earlier. Sales rose 14% to $4.47 billion, Elk Grove, Ill.-based UAL said.
April 12, 2006 |
Fidelity Investments is taking a flier on airline stocks. The world's largest mutual fund company said in regulatory filings this week that it owned 12 million shares of United Airlines parent UAL Corp. and sharply boosted its holdings in American Airlines parent AMR Corp. in recent months. Fidelity's 13% stake in UAL makes it the biggest investor in the nation's No. 2 carrier, which emerged from bankruptcy protection in February after three years in Chapter 11.