UAL CEO says case for consolidation compelling

Thu Apr 3, 2008 10:13am EDT
 
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WASHINGTON, April 3 (Reuters) - The case for airline industry consolidation is more compelling now than a year ago because of sharply higher fuel prices, the chief executive of UAL Corp's (UAUA.O) United Airlines said on Thursday.

Glenn Tilton told reporters at the U.S. Chamber of Commerce that airline industry restructurings will not be sufficient to sustain profitability with oil prices above $100 per barrel.

Tilton said the industry needs to speed up the pace of change.

"The case for change including consolidation was compelling a year ago and has to be more so today," he said. (Reporting by John Crawley, editing by Gerald E. McCormick)

 

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