Losses spiral at United Airlines
Date: Friday, January 27 @ 09:50:31 PST
Topic: Business News; Market Research
United Airlines' parent company made a $21bn (£11.8bn) loss last year due to charges arising from its bankruptcy.
It suffered pre-tax losses of $16.6bn alone in the last quarter after it recognized many unsecured claims.
Controversially, it was also granted permission to terminate its defined benefit pension schemes, saving $645m a year.
"We have made fundamental, sustainable changes to United's business and established a solid financial platform," said chief executive Glenn Tilton.
BBC
|
|