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United Airlines (UAL Corporation)
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General Company Information:
Airline operator UAL unites people and cities around the globe through its main subsidiary, United Airlines, one of the world's leading passenger and cargo carriers. Overall, United serves more than 200 destinations in about 30 countries worldwide from hubs in Chicago, Denver, Los Angeles, San Francisco, and Washington, DC.
United hopes to grow by focusing on the high end of the market. It offers multiple classes of service on many of its flights and believes it can continue to attract business travelers by taking advantage of its extensive global network -- particularly between the US and the Asia/Pacific region -- and the well-known United brand. The carrier extends its international coverage as part of the Star Alliance, a global airline marketing and code-sharing group that also includes carriers such as Air Canada, Lufthansa, and Singapore Airlines. (Code-sharing enables airlines to sell tickets on one another's flights and thus offer potential passengers more destinations.)
UAL's Mileage Plus frequent-flier is seen as another key to the company's customer retention efforts; at the same time, the company is considering ways to generate cash from the unit, such as a sale or a spinoff. UAL's aircraft maintenance business, United Services, is another potential candidate to be spun off or sold.
In addition, the company is continuing to work to reduce its operating costs as it adapts to persistently high fuel prices. In June 2008 UAL announced plans to reduce United's domestic mainline capacity by more than 15%, cut 1,400-1,600 jobs (about 3% of its workforce), and ground about 100 fuel-inefficient airplanes. At the same time, the company is shutting down its one-class, low-fare carrier, Ted, and reconfiguring the unit's 55-plus aircraft to include first-class sections for mainline use. United also joined archrival American Airlines in imposing a first-checked-bag fee for most customers.
The long-anticipated consolidation announcement came in June 2008, when United and Continental unveiled plans for an extensive alliance -- one that would go beyond code-sharing in terms of coordination of services but would not involve a merger or acquisition. Regulatory approval will be required for some aspects of the deal, and Continental will have to unwind agreements with its partners in the SkyTeam Alliance in order to join United in the Star group.
Headquarters: Chicago, IL
Employees: 55,000
2007 Sales: $20.143 Billion
2007 NI:$403 Million
Operating Segments:
Mainline, United Express
Current News:
Aer Lingus & United Airlines Partnership Takes to the Skies
10/08/2008 10:30:00 AM
PR Newswire
CHICAGO, Oct. 8 /PRNewswire-FirstCall/ -- Aer Lingus and United Airlines have begun a codesharing agreement enabling United customers to book connecting flights on Aer Lingus' network for travel from Nov. 1, 2008. The new partnership provides customers with a seamless booking process, coordinated baggage handling, and simplified reservations, ticketing and check-in. From April 2009 Aer Lingus will place its code on United Airlines domestic flights, giving customers access to United's entire North American network.
United Pilots: Glenn Tilton's Excessive Pay Package Must Go
09/29/2008 12:26:00 AM
PR Newswire
CHICAGO, Sept. 29/PRNewswire-USNewswire/ --Pilots for United Airlines (Nasdaq: UAUA) today demanded that the UAL Board of Directors cut the pay for its CEO, Glenn Tilton, as a reflection of concern and solidarity with passengers and employees who are being forced to tighten their belts.
UAL Corporation Boosts Liquidity by Approximately $1.2 Billion, Completes Chase Agreement
09/18/2008 09:45:00 AM
PR Newswire
CHICAGO, Sept. 18 /PRNewswire-FirstCall/ -- UAL Corporation (Nasdaq: UAUA), the holding company whose primary subsidiary is United Airlines, completed the amendment of its co-branded card marketing services agreement with Chase Bank, as well as amended its credit card processing agreement with Chase/Paymentech L.L.C. These agreements boost United's liquidity by approximately $1.2 billion, including $1.0 billion in the short term and an additional $200 million over the next two years.
Appointment of Captain Hank Krakowski as chief operating officer for the FAA applauded by United Airlines
Former United Airlines Vice President of Flight Operations Hank Krakowski has been appointed COO of the Federal Aviation Administration (FAA).The company will begin a new search for Krakowski’s position immediately and applauds the move.
Delta, United Airlines Win New Air Routes To Chinas Financial, Manufacturing Capitals
United Airlines will begin offering service between San Francisco and Guangzhou, China’s manufacturing center, beginning in 2008.The routes will double the flights between the countries and open the potential for additional cargo flights in coming years.
Financials and Facts:
2007 Sales (mil.) / $20,143.01-Year Sales Growth / 4.2%
2007 Net Income (mil.) / $403.0
1-Year Net Income Growth / --
2007 Employees / 55,000
Key People:
Chairman, President, and CEO, UAL and United Airlines / Glenn F. TiltonEVP and COO, UAL and United Airlines / John P. Tague
EVP and CFO, UAL and United Airlines / Frederic F. (Jake) Brace
SVP and CFO, UAL and United Airlines / Kathryn A. Mikells
SVP and Chief Information Officer, United Airlines / Keith Halbert
Largest Competitors:
AMR Corp. (Annual Sales: $22.935 Billion)
Delta Airlines (Annual Sales: $19.154 Billion)
Northwest Airlines (Annual Sales: $12.528 Billion)