United Airlines plans to cut jobs and capacity

Wed. July 23, 2008; Posted: 07:10 AM

Jul 23, 2008 (AIRLINE INDUSTRY INFORMATION via COMTEX) -- UAUA | Quote | Chart | News | PowerRating -- As a result of the losses announced by United Airlines (NASDAQ:UAUA) yesterday (22 July), the company has reported that it will be cutting capacity and jobs.

The airline will be reducing its workforce by 7,000 by the end of 2009.

According to The Times, this will bring to total number of jobs planned to be cut by the company to almost 11,000.

Capacity will also be drastically cut by United Airlines. The entire fleet of Boeing 737s and six Boeing 747s will be retired, resulting in a total of 100 aircraft. United Airlines plans to reduce mainline domestic capacity by between 15.5% and 16.5% in the fourth quarter.

Comments on this story may be sent to aii.feedback@m2.com

For full details on UAL Corp (UAUA) click here. UAL Corp (UAUA) has Short Term PowerRatings of 6. Details on UAL Corp (UAUA) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.