United CEO Says Bankruptcy Not Certain
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United Airlines’ new chief executive characterized the carrier’s situation as one of extreme urgency, but said a bankruptcy filing is not a foregone conclusion.
Hoping to set a cooperative tone for difficult labor negotiations, Glenn Tilton paid a brief visit to the leaders of United’s unions, assembled at a rare joint-strategy meeting.
Although calling it premature to talk about specifics of a financial recovery plan, Tilton made it clear he doesn’t think the severe labor cuts sought by his predecessor were out of line.
Shares of parent firm UAL Corp. closed up 56 cents at $3.50 on the NYSE.
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