Sierra Mike
03-18-2003, 07:06 PM
CHICAGO (Reuters) - Bankrupt United Airlines forecast a first-quarter operating loss of $877 million and said for the first time publicly that going out of business altogether is a ``distinct possibility'' as war looms.
UAL Corp.'s (UAL) United said domestic bookings are down and international bookings have dropped 40 percent in the last week alone, due to the impending Iraq conflict.
The world's second-largest airline turned much more pessimistic about its future this week as war appeared imminent. In papers filed with the bankruptcy court on Monday, United said it might cease operations altogether without labor cost reductions from major unions.
Read all about it at United Airlines Might Go Wheels-Down Forever (http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20030318&ID=2397784)
SM
UAL Corp.'s (UAL) United said domestic bookings are down and international bookings have dropped 40 percent in the last week alone, due to the impending Iraq conflict.
The world's second-largest airline turned much more pessimistic about its future this week as war appeared imminent. In papers filed with the bankruptcy court on Monday, United said it might cease operations altogether without labor cost reductions from major unions.
Read all about it at United Airlines Might Go Wheels-Down Forever (http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20030318&ID=2397784)
SM