UNITED AIRLINES, amid cries of ”foul” by other carriers, has finally returned to the real commercial world, leaner and hopefully a more cost-efficient carrier after a painful restructuring that began in 2002 and lasted a record 1,150 days. The airline has not posted a profit since 2000 and uniquely even managed to give birth to an offspring, Ted, during its period of insolvency. The airline now has about 30% fewer employees (58,000), 20% fewer (and often elderly) aircraft (460) and a claimed 20% lower operating costs. Introduced on to the NASDAQ New York stock exchange the shares opened at US$40 last Wednesday and closed at US$34.60 on Friday a drop of 13%.
http://www.united.com