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"We are seeing good results from our revenue
initiatives, and over the next several quarters, we
expect to build on our early momentum," said Jim
Compton, UAL's vice chairman and chief revenue officer.
"Our team continues to pursue and implement changes that
will enhance revenue performance."
United Airlines has come a long way since the attack on
the World Trade
Center on September 11,
2001. Two of the planes used by al-Qaeda to terrorized
our country were United Airlines aircraft. United
Airlines Flight 175 was flown into the south World Trade Center tower and United Airlines Flight 93 was crashed
in a field in
Pennsylvania
after the passengers fought back against the hijackers.
As
a result of September 11th, the country saw a downturn
in the economy, the impact resulted in United Airlines
loosing $2.14 billion in 2001. After a failure to secure
capital, United filed for bankruptcy protection in
December 2002, resulting in the layoffs of thousands of
workers, the company closed all of its
U.S.
city ticket offices, closed a number of maintenance
facilities, reduced its fleet size, cancelling several
routes, etc. In 2005, United had the largest pension
plan default in
U.S.
corporate history.
As a result of cost cutting measures, United
Airlines was able to raise $3 billion to exit
bankruptcy. In 2010, United Airlines entered talks
with Continental Airlines and in 20112 the two
companies merged.
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