AMERICAS: United Airlines cuts international capacity
United Airlines parent UAL Corp. said it will cut international routes by seven per cent to further cut costs after posting a second-quarter loss which amounted to, excluding one-time costs, $323 million. Combined with earlier cuts, this most recent announcement will bring UnitedÃ¢â‚¬™s capacity cuts to almost 11 per cent this year, up from a […]
August 1, 2009
Combined with earlier cuts, this most recent announcement will bring UnitedÃ¢â‚¬™s capacity cuts to almost 11 per cent this year, up from a plan of as much as 10 per cent. The new cuts will take effect in the last four months of 2009.
Revenue fell 25 per cent from a year earlier to $4.02 billion, making last quarter the second-worst for revenue since UAL left bankruptcy on 1 February 2006. Revenue in the first three months of this year was $3.69 billion.
Ã¢â‚¬Å“While there is much outside our control, including the state of the economy and the price of oil, we are focused and executing against those things we can control,Ã¢â‚¬Â Chief Executive Officer Glenn Tilton said.