(CHICAGO) Friday, June 14, 2002 å- United Airlines (NYSE: UAL) Chairman and Chief Executive Officer Jack Creighton today issued the following statement:
“I’m pleased to announce that an Air Line Pilots Association-United Airlines negotiating team has finalized a proposal for participation by United’s pilots in our ongoing financial recovery program. This proposal, which is subject to documentation, will be presented to the Master Executive Council of ALPA next Tuesday, to determine whether it will be submitted to the pilots for a ratification vote. It is also subject to the approval of the UAL Board of Directors and its Labor Committee. If approved, it will result in significant cost reductions for United while providing our pilots with additional opportunities for participation in United’s future growth.
“I want to commend ALPA for its leadership role in finding creative solutions to address the current imbalance between employee-related costs and the reality of today’s revenue environment. I look forward to the results of next week’s ALPA MEC discussion.”