UAL on pace to lose another 1B +

Oh lord! Here comes the CH7 dog and pony show again. Since I don''t have much time here is the short version:

1. If you read the press release you will see that this was for the month of April (war and SARS). You will also see that Brace said that those events dragged down our numbers, and that things are now improving.

2. Cost cuts are now taking effect. THESE WERE NOT IN EFFECT IN APRIL. The pay cuts were but not the productivity changes. Speaking from a pilot''s point of view, we have taken additional pay cuts since April in the form of commom 747/777 and 737/A320 pay rates. I should know, I have the paycheck and dismal schedule to prove it.
We have also reduced A/C lease rates which were not reflected for April, and we continue to reduce costs in all areas. This is an ongoing process which will take several months to complete. You can''t take a company the size of UAL in this economy and suddenly make it profitable.

3. Despite what many think, Glen Tilton does know what he is doing. People may not like every decision that he makes, but the man is extremely competent. Now that the cost cutting measures are in place he is turning his attention to restructuring management. Examples of this are the hiring of the gentleman from ATA (I forget his name), and the addition of the dean of Northwestern U''s Kellogg School of Management to our BOD. My personal opinion is that he is lining up an all-star team.

I''m sure this post will attract the usual crowd of doom-and-gloomers, but the simple fact is that United is going to survive.

Cheers
 
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On 5/28/2003 9:15:46 PM ExThunderGuppy wrote:

Not at all. Just happy to be seeing the light at the end of the tunnel.

P.S. I believe it''s now your turn in the barrel at NWA. Can you say "squeal like a pig?"

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yep, and with a very militant AMFA and no real assest to use for DIP collateral....
 
And big, burly Teamster flight attendants!!!!
9.gif

Oink Oink Weeee Weeeee Weeeeee!!!!!!!!!
 
Not at all. Just happy to be seeing the light at the end of the tunnel.

P.S. I believe it''s now your turn in the barrel at NWA. Can you say "squeal like a pig?"
 
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On 5/28/2003 9:42:08 PM ExThunderGuppy wrote:

And big, burly Teamster flight attendants!!!!
9.gif

Oink Oink Weeee Weeeee Weeeeee!!!!!!!!!

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Don't forget the gangsta' rapper airport employees (at least in DTW)
9.gif
 
I thought United would make it, but now I don''t. They met there dip target today, but a 345 Mil.$ loss in April is horrible. Were the concessions in effect in April?
 
UA must survive. I''m sure Tilton is a very good manager but for him and Brace to bet it all on a ATSB loan guarantee (both last December and now to exit BK) is astounding!

Cost cuts are just one part of the equation. How is UA going to generate more revenue??

UA needs a leader now, not a manager.
 
I thought that UAL would make it, but the absence of an equity investor is now causing me to have doubts. USAir seemed to attract a lot more interest from the Alabama Pension Fund and TPG. Where is the interest in UAL?
 
Both UAL and AA are a couple of beached whales waiting for a tide that will never come in. U''s carcass is already starting to rot.
 
Thanyou ExThunderGuppy. I am sick and tired of those who are not in the know relying on and misinterpreting press releases for the news media. In light of what has happened at the NYT, no new media is exempt from cutting and pasting and failure to present the whole picture.

Glenn Tilton is doing a fabulous job of turning our company into a professional running business. It is no longer a social workshop. At present the DIP financers are directing the running of the company. When we emerge from bankruptcy (the timing of which is currently being discussed with the DIP financiers), we will be a well-run organization.

Those of you who have no confidence or faith in our company would better serve yourselves elsewhere. Go and post on the other airline forums.
 
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On 5/29/2003 9:56:20 AM novaqt wrote:

Thanyou ExThunderGuppy. I am sick and tired of those who are not in the know relying on and misinterpreting press releases for the news media. In light of what has happened at the NYT, no new media is exempt from cutting and pasting and failure to present the whole picture.

Glenn Tilton is doing a fabulous job of turning our company into a professional running business. It is no longer a social workshop. At present the DIP financers are directing the running of the company. When we emerge from bankruptcy (the timing of which is currently being discussed with the DIP financiers), we will be a well-run organization.

Those of you who have no confidence or faith in our company would better serve yourselves elsewhere. Go and post on the other airline forums.

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If UAL doesn''t stop bleeding like a stuck pig soon, the only topic of discussion among the lenders will be ways to liquidate UAL for maximum recovery.
 
It will be such a great day when we come out of BK. Quiet you people down. Why do you want to see us fail? The simple reason is because we have things that they want such as

Narita Rights (everybody but NWA wants these)

Heathrow Rights (Everyone but AA)

O''Hare Hub (AA and others)

DEN Hub (Continental and Delta)

SFO Gateway (Who doesn''t want these)

LAX Gates (Same as SFO)

We just have everything that they want. Shucks and were still in business. Want to see disgruntled employees? See AMR and U....just look at the board everyday to see that they are the airlines in trouble long term. All the posts are about these two airlines....the rest of us are working hard at fixing what''s been broken, and we will succeed.
 
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