United CEO says consolidation should help shape industry
Glenn Tilton, chief executive of United Airlines, said that carriers' balance sheets are likely at the point where mergers could be considered. "There is still too much capacity in the U.S. market," he said. United was in merger negotiations with Continental Airlines last year, but soaring fuel costs and deteriorating cash reserves put an end to the discussions. Rivals Northwest Airlines and Delta Air Lines, however, did manage to merge. Tilton expects more consolidation in the industry to shape its future.
Financial Times | 10/28
This story published in ATA SmartBrief on 10/29/2009
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