Glenn Tilton
Glenn Tilton
Glenn Tiltonwas Midwest Chairman and a member of the Executive Committee, at JP Morgan Chase, a position he has held from June 6, 2011 to 2014. Tilton was formerly non-executive Chairman of United Continental Holdings Inc.,, the parent company of United Air Lines, Inc. and Continental Airlines, Inc. as of October 1, 2010. Tilton was formerly Chairman, President, and CEO of UAL Corporation from 2002-2010...
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We are pleased to have received this support for our Plan from our creditors. These results validate our efforts to develop an exit plan that is in the best interests of all of our stakeholders and maintains our strong momentum toward emerging from Chapter 11 in February.
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We look forward to competing with Southwest, as we do in other cities, ... a reminder that our challenges will not cease the day we exit Chapter 11.
chapter marks position renewed starts today
Today marks a new chapter for United, and it starts from a renewed position of strength.
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At this point, nobody should consider a Chapter 11 filing inevitable.
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Chapter 11 does not mean United is going out of business. In fact it means the opposite,
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This is a huge step in enabling this airline to emerge from Chapter 11 as a stronger, more competitive company,
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We have been preparing for a Chapter 11 filing for months, and we are ready if we decide that's the best course for the company.
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Our plan will have to be more aggressive than it was out of court. We will need more cost savings. Work rules will have to be on the table. We have to take this opportunity to create a different and durable cost structure that allows us to compete and succeed in a different revenue environment.
commodity minimum product provide service
other U.S. competitors who provide a commodity product with the barest minimum of service.
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reflects the financial foundation of the much stronger, much more competitive United that we have built.
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Without a coherent U.S. aviation policy that reverses the bias against airline size and removes the barriers that prevent us from constructive consolidation, U.S. carriers will be unable to compete on a global scale and we risk being marginalized,
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We also recognize that there is work where we at United do not have an advantage. That work is performed for us by vendors in the U.S., Korea and other countries, now including China.
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While no one underestimates the magnitude of the challenge, we are making good progress on our financial recovery program, ... We continue to work vigorously with all of our unions and other parties to achieve our number one goal: restoring the financial health of this airline without the necessity of an in-court process.
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Today, we have the business platform we need to compete with the strongest carriers and a clear strategy of offering the right service to the right customer at the right price.