UAL CEO to Stay Until Accord Reached
Bloomberg News
UAL Corp. Chief Executive Jack Creighton said he plans to remain at the parent of United Airlines until an agreement is reached with workers on cost cuts, probably by October.
The world’s second-largest carrier expects to overcome reluctance of some workers to take part in the plan aimed at stopping losses of as much as $4 million a day, Creighton said.
With help from the cost reductions, UAL may opt to apply for a federal loan guarantee by the middle of next month, just ahead of a June 28 deadline.
