Airlines
Citigroup's recent decision to underwrite the $1.1 billion sell-down of British Airways' 18.25 per cent shareholding in Qantas without an explicit underwriting fee is a significant departure from the traditional practices of investment banks. This move, where Citigroup took a $1 billion risk without any
Airlines
The US appeal court's ruling on a case involving an Air New Zealand passenger who developed deep vein thrombosis (DVT) during a long-haul flight has been welcomed by Qantas Airways Ltd, Australia's flagship carrier. The judgment, which found in favor of the airline, is being presented
Airlines
A federal bankruptcy judge has granted a preliminary injunction to United Airlines' parent company, UAL Corp., against two lawsuits filed by union employees seeking to hold top executives personally liable for delinquent pension plan contributions. The injunction, granted by Judge Eugene R. Wedoff on August 23, temporarily blocks the
Airlines
United Airlines, the US carrier currently in bankruptcy protection, is planning a major overhaul of its business plan, which includes cutting 6,000 jobs and slashing millions of dollars from its annual operating costs. The airline needs to make deeper restructuring changes after the Airline Transportation Stabilisation Board rejected its
Airlines
For decades, major corporations like United Airlines have promised their employees a secure retirement through pension plans. However, when these companies encounter financial difficulties, they often abandon their pension obligations, leaving employees with unrealized promises. United Airlines is the latest example, announcing plans to end its pension plans in a
Airlines
In the ongoing debate surrounding United Airlines' pension troubles, one might be tempted to blame bankruptcy law or the company's management for placing the burden of its misfortunes on employees. However, the federal bankruptcy code actually provides employees and retirees with crucial protections. A bankruptcy judge must
Airlines
Starbucks Coffee Company and United Airlines have reaffirmed their commitment to providing passengers with an exceptional in-flight experience. As part of a new three-year supply and cooperative marketing agreement, Starbucks will continue to be the exclusive coffee for United Airlines and Ted flights worldwide. The collaboration will also feature a
Airlines
The Pension Benefit Guaranty Corp. (PBGC), the federal entity responsible for insuring the nation's pension plans, has filed a motion with the bankruptcy court to block United Airlines' plan to cease funding its pension plans. The airline's pensions are underfunded by $8.3 billion, affecting
Airlines
The International Association of Machinists (IAM) has filed a motion in federal court to strip United Airlines' management of control, alleging "gross mismanagement" of the airline. The move comes as the airline faces significant challenges, including record-high fuel costs and falling airfares, leading to financial losses despite
Airlines
United Airlines pilots, citing concerns about the replacement of their pension plans with less generous versions, have vowed to use all legal means to fight the move, which they warn could "destroy the career of every pilot" and disrupt labor relations at the airline for years to come.
Airlines
United Airlines is putting the world on sale with great end-of-year airfares to every destination it serves worldwide. The sale, which begins today and runs through August 13, 2004, offers customers the chance to fly to any U.S. or international destination at discounted prices. The fares are good for
Airlines
As the demand for premium air service remains high on certain transcontinental routes, United Airlines is making a strategic shift in response to the growing competition from low-cost carriers. By spring, the carrier will reduce capacity nearly 35% on its signature routes between New York and both San Francisco and
