Originally Posted by
Seven6SevenDCA
WheelsUp - You wrote
>>UAL could be in the same boat by the end of the year. Not much left to mortgage<<
I am told that United's umencumbered assets are greater than any of the other major carriers, except for American and Southwest. Have you heard differently?
None of the U.S.carriers have a bright prospect, but United's is bad mostly due to extremely poor (and greedy) management, in my opinion.
I posted this in different thread about 5 weeks ago, I'll paraphrase here:
My sister is a managing director at UAL. During a senior staff meeting in mid May they announced that management would be cut by about 25%. Three weeks later UAL publicly announced they would be laying off 1600 management employees and 950 pilots.
During the same meeting it was mentioned that "if things don't get better by summer" UAL was "going out of business".
I pray and hope this is not the case. In spite of the fact my sister is management (you should see Christmas time around my house!) She has spent over 23 years there and loves the company. I would not be a happy thing for me. But that's the current thinking at UAL HQ.