United Outlines Transformation Plan
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United Airlines said it plans to return to profitability through a combination of reducing costs, launching a low-cost carrier and using more regional jets.
United told employees it needs its own discount carrier to become more competitive in the leisure travel market.
It defended the plan to create a separate, low-cost airline, which has been assailed by unions and questioned by industry experts, saying it “has learned from the industry’s past mistakes.”
Shares in United parent UAL Corp. rose 19 cents to $1.10 on the NYSE.
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