Tue, Oct 09, 2007
Plans $4 Billion In Improvements To Carrier
The name "United Airlines" may soon
have added significance... as CEO Glenn Tilton recently stressed
the airline's interest in a possible merger with another airline
down the road.
The Associated Press reports Tilton made his comments to United
employees last week... as he announced plans to spend close to $4
billion on improvements to the carrier, all aimed at increasing
revenue and adding efficiency.
One could take that to also mean Tilton hopes to make United a
more attractive purchase for a potential buyout... something the
CEO did not deny. Tilton made his remarks ahead of the announcement
of United's Q3 earnings results... which are expected to be among
the strongest in the industry.
"The results we are posting across our company have enabled us
to look to our future and create a five-year plan that will
position us for success in an industry that has historically and
consistently destroyed value for shareholders and stakeholders,"
Tilton said in the recorded announcement.
"The ambition of our five-year plan is to position United to be
the global airline of choice for premium customers, employees and
investors, maintaining our fundamental commitment to safety and
balancing the needs of all of our stakeholders."
News that Tilton is interested in such a merger isn't new. As ANN reported, rumors of an
impending decision swirled around United Airlines' annual investor
briefing in December of last year, as "merger mania" swept through
US carriers; that talk proved to be just that, however, and rumors
of a United merger died down soon after US Airways' failed play for
Delta moved off the front pages.
"We are going to be attentive to opportunities as they present
themselves," Tilton said at the time... and now, nearly one year
later, it seems Tilton is just as "attentive" as ever. Stay
tuned.
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