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BUSINESS
January 24, 2007 | From the Associated Press
Eleven months after it left federal bankruptcy protection, the parent of United Airlines announced a narrowed fourth-quarter loss Tuesday. But that wasn't enough to soothe angry investors who sent the stock down after UAL Corp. fell far short of Wall Street expectations. The airline, which had to ground thousands of flights in December during a series of snowstorms, lost $61 million in the quarter ended Dec. 31, a loss that amounted to 55 cents a share. Revenue rose 5% to $4.
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BUSINESS
December 13, 2006 | From Times Staff and Wire Reports
UAL Corp. Chief Executive Glenn Tilton renewed his call Tuesday for consolidation of the U.S. airline industry, but the company declined to comment on reports that UAL was discussing merging its United Airlines with Continental Airlines. UAL said nothing publicly at its first investor day in years about rampant talk on Wall Street that it might be preparing a bid for Continental or Delta Air Lines Inc.
BUSINESS
September 30, 2006 | From the Associated Press
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.
BUSINESS
August 1, 2006 | From the Associated Press
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.
BUSINESS
July 25, 2006 | From Bloomberg News
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.
BUSINESS
May 9, 2006 | From Bloomberg News
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.
BUSINESS
February 2, 2006 | From Reuters
UAL Corp., parent of United Airlines, ended three years in Chapter 11 protection Wednesday. The No. 2 U.S. airline, which used its time in protection from creditors to slash costs by $7 billion a year, now must sink or swim in a fiercely competitive industry that is plagued by soaring fuel costs and overcapacity. "We can be better. We are in a very competitive industry, and we take nothing for granted," UAL Chief Executive Glenn Tilton said.
BUSINESS
December 31, 2005 | From Bloomberg News
UAL Corp.'s creditors approved the airline's plan to repay debt after three years under bankruptcy protection, paving the way for the company to emerge from Chapter 11 in February. The results allow the Elk Grove, Ill.-based company, the parent of United Airlines, to seek approval of the reorganization plan from U.S. Bankruptcy Judge Eugene Wedoff in Chicago. Wedoff is scheduled to consider the request Jan. 18.
BUSINESS
November 1, 2005 | From Associated Press
Burdened by the heavy costs of reworking its airplane leases and contracts, United Airlines' parent company reported a record $1.77-billion loss for the third quarter Monday to run its overall losses from nearly three years in bankruptcy protection to $9 billion. UAL Corp. said the $1.8 billion in reorganization costs, driven by $1.
BUSINESS
August 3, 2005 | From Associated Press
United Airlines' more than 2 1/2 -year stay in bankruptcy protection could extend into next year now that its parent company, UAL Corp., has delayed filing a plan for leaving Chapter 11 protection. The nation's No. 2 airline had expected to submit the plan Tuesday in U.S. Bankruptcy Court but said its creditors' committee had requested more time to review "the complex, extensive documents."
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