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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These solid results are evidence of real progress in our work to make United competitive and resilient.
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We've put ourselves in a position to be able to compete with the effect of high oil prices in 2006. I'm confident that the work that we've done will put us in a position to have a competitive result whatever the market environment may be.
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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.
ability billion build exit fact financial financing four proposals solid success work
The fact that we have proposals for up to $3 billion in exit financing from four of the most prestigious financial institutions in the world is solid confirmation of the work that we have done together, and most importantly, of our ability to build on that success in the future,
aggressive compete cost create durable opportunity plan revenue rules structure succeed work
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.
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This is the last of the tentative agreements with our work force and underscores the significant progress we have made in recent weeks toward cutting costs, ... The IAM, along with our other unions, has stepped up to the challenge by cooperating in an unprecedented way to set the framework for a stronger, more competitive airline.
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We look forward to continued cooperation with all of our unions and employee groups as we work to reach consensual agreements that will help us redesign our business and compete more effectively in the long term.
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The confirmation of our plan is a clear validation of the work we have done to make United a sustainable enterprise with a strong financial and operational foundation. We will leverage that foundation to take full advantage of the opportunity we have to compete for leadership in the U.S. and worldwide.
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important steps forward as we work to transform United.
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It would not be the end of United if we were to do so, ... We would be flying the next morning.
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The results we are reporting make it clear that we have done well this quarter in overall cost control, especially given the significant reduction in capacity.
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At this point, nobody should consider a Chapter 11 filing inevitable.
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We are very excited by this historic opportunity to be the first U.S. carrier to provide direct service to Vietnam in almost 30 years.