May 4, 2010 at 10:37 a.m.
Filed under:
Airlines,
Airports,
Labor,
Policy,
Politics
Chicago Mayor Richard M. Daley, left, chats with Glenn Tilton, chairman, president and CEO of UAL Corp. as Jeff Smisek, chairman, president and CEO of Continental Airlines addresses the media at Willis Tower in Chicago on Tuesday. (José M. Osorio/ChicagoTribune)
By Julie Wernau
| Politicians and CEOs celebrated the $3 billion merger agreement between United and Continental Airlines this morning at Willis Tower, where United CEO Glenn Tilton told Mayor Richard Daley, “Chicago just got a whole lot more competitive.”
The gathering at Willis Tower, where the merged airline’s operations will be headquartered, included Tilton, Daley, Illinois Gov. Pat Quinn, and Continental CEO Jeff Smisek, as well as members of the Chamber of Commerce and dozens of news crews from across the country.
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May 3, 2010 at 2:34 p.m.
Filed under:
Airlines,
Chicago executives,
M&A
Continental Airlines CEO Jeffery Smisek, left, and United Airlines CEO Glenn Tilton. (AP Photo/Mark Lennihan)
By Wailin Wong | Gossip, a birthday phone call and a renewed relationship with an old flame: The story of how United Airlines and Continental Airlines got together is a romance for the ages. And like any good tale, this one has a cast-off lover, in the form of US Airways.
“What happened here is very simple,” Continental President and Chief Executive Jeff Smisek told analysts and reporters on a Monday conference call. “I found out through the news media that Glenn [Tilton, CEO of United] was looking at a potential other combination. I recognized that United is the best possible partner for Continental…I didn’t want him to marry the ugly girl. I wanted him to marry the pretty one, and I’m much prettier.”
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May 3, 2010 at 7:36 a.m.
Filed under:
Airlines,
Labor
Associated Press | Machinists at Boeing’s St. Louis defense systems plant have authorized a strike if a contract is not accepted before the current agreement expires next month.
The International Association of Machinists and Aerospace Workers District 837 said in a statement that the strike authorization vote was supported by 99 percent of the workers who attended a meeting on Sunday.
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May 3, 2010 at 6:34 a.m.
Filed under:
Airlines,
M&A
The new paint job planned for United Airlines planes after the merger. (United handout)
By Julie Johnsson | United Airlines and Continental Airlines announced early Monday morning
that they are combining operations to form the world’s largest airline
in a $3 billion merger.
The deal is the culmination of a lengthy search by United CEO Glenn
Tilton for a partner that would bolster his carrier’s global network
and that would promote consolidation in a badly fragmented industry
plagued by chronic losses. Continental CEO Jeff Smisek will be named CEO of the new carrier, while
Tilton will move to its board as non-executive chairman for a two-year
term.
The new airline, to be named United, will retain its world headquarters
at 77 W. Wacker Drive in Chicago, where United currently employs about
700 people.
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April 30, 2010 at 4:53 p.m.
Filed under:
Airlines,
China,
International,
Politics
By Associated Press
American Airlines is further delaying the launch of flights between Chicago’s O’Hare International Airport and Beijing because it has yet to get approval for certain takeoff and landing times from Chinese authorities.
The airline said earlier this week it was tentatively delaying the start of flights until May 4. On Friday, the airline said it now plans to start the service on May 25.
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April 30, 2010 at 12:13 p.m.
Filed under:
Airlines,
Travel
From Bloomberg | Continental Airlines and UAL Corp.’s United Airlines have tentatively agreed on an exchange ratio in their all-stock merger, according to a person with knowledge of the matter. The ratio would be 1.05 shares of United stock for each Continental share.
Get the full story: businessweek.com.
April 30, 2010 at 11:54 a.m.
Filed under:
Airlines,
Airports,
Policy,
Politics
From Crain’s Chicago Business | Chicago is still considering the privatization of Midway Airport, city officials told the Federal Aviation Administration
Friday.
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the full story: chicagobusiness.com.
April 30, 2010 at 8:01 a.m.
Filed under:
Airlines,
Litigation
(AP Photo/Rob Carr, file)
From the Daily Herald | Applied Transport Solutions has filed a lawsuit against UAL Corp., owner of United Airlines, accusing it of stealing technology and a method to deliver bags directly to fliers’ homes. United announced an 11-day trial of door-to-door bag delivery in March.
Get the full story: dailyherald.com
April 29, 2010 at 10:41 p.m.
Filed under:
Airlines,
M&A
By Julie Johnsson | United and Continental Airlines are expected to announce Monday that
they are combining operations to create the world’s largest airline,
the culmination of more than a decade’s effort by Chicago-based United
to strike a megamerger that would transform the U.S. airline industry.
The transaction, which must still be approved by both airlines’ boards,
would be structured as a merger of equals, with neither side paying a
premium for the other’s stock, according to sources close to the talks.
The new airline, to be called United and based in Chicago, sources
said, would bring together two carriers whose hubs and routes
complement each other, giving management a shot at running a more
profitable business in an industry plagued by overcapacity.
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April 29, 2010 at 2:17 p.m.
Filed under:
Airlines,
Manufacturing
From Reuters | Israeli airline El Al said on Thursday that it is canceling its order with Boeing Co. to buy four 777-200 jets.
Get the full story: reuters.com.
April 29, 2010 at 7:11 a.m.
Filed under:
Airlines
From Bloomberg News | Boeing Co. and Airbus are considering new engines for their smaller, single-aisle planes to shorten waits for new planes and cut fuel use, but airlines may not be interested.
Get the full story: businessweek.com
April 28, 2010 at 5:41 a.m.
Filed under:
Airlines,
Manufacturing
Associated Press | Boeing Co. has asked the companies that make
the large sections of its new 787 jetliner to hold back shipping the
assemblies for two of the jets for about a month.
Boeing Commercial Airplanes spokeswoman Yvonne Leach said Tuesday that
787 final assembly is continuing at its Everett plant and that the
temporary delay won’t affect work under way. Boeing remains on track to
deliver the first 787 to a customer late this year, she said.
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April 27, 2010 at 12:11 p.m.
Filed under:
Airlines,
Consumer news
Associated Press | Southwest Airlines Co. has been fined
$200,000 for violating rules on bumping passengers from oversold
flights. The Transportation Department said Tuesday that it reviewed
passenger complaints and found many cases of improper bumping.
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April 27, 2010 at 9:08 a.m.
Filed under:
Airlines,
Earnings,
M&A
By Julie Johnsson | Two
years ago, Continental Airlines’ board ended merger talks with United
Airlines after the Chicago-based carrier reported unexpectedly poor
quarterly results. But United’s financial strength is no longer an issue as the carriers
redouble their efforts to complete a deal to form the world’s largest
airline.
A source close to the talks told the Tribune that the carriers remain
on track to wrap up a deal during the next few days and that price is the
only major issue yet to be resolved.
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April 27, 2010 at 7:46 a.m.
Filed under:
Airlines,
Earnings
Passengers check in at the United Airlines ticket counter, at Logan International Airport in Boston in July. (AP Photo/Michael Dwyer)
By Julie Johnsson | Spurred by strong revenue growth, United Airlines parent UAL Corp. performed better than analysts
had expected as it narrowed its first quarter loss to $92 million, or
$0.55 cents per share, in earnings reported Tuesday. That’s an
improvement from the $382 million net loss, or $2.64 per share, that
United reported a year ago.
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