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United''s aim now survival Loss fuels bankruptcy speculation.

Publication: Daily Herald (Arlington Heights, IL)
Publication Date: 02-FEB-02 		Format: Online
Delivery: Immediate Online Access
Full Article Title: United''s aim now survival Loss fuels bankruptcy speculation.(News)

Article Excerpt
Byline: Mike Comerford Daily Herald Business Writer

With fear of bankruptcy looming in the air, UAL Corp.' s United Airlines on Friday announced it lost $2.1 billion last year - and prospects for this year look dire.

In the face of continuing losses, United Chief Executive Officer John Creighton called on the Elk Grove Township-based airline's 81,000 employees for billions of dollars worth of unspecified concessions in the next few years.

Union officials responded by saying they'll decide on that when all union contracts are signed and when specific give-back proposals are made.

Post-Sept. 11, United is one of the hardest-hit airlines in the industry. Its fourth-quarter revenue plunged 38 percent.

Conditions aren't a whole lot better of its major competitors, with most also reporting massive and ongoing losses.

Eight of the largest airlines in...

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