Blaming the boss at UAL

There they go again, those pesky United pilots. Now they’re saying the airline’s chief, Glenn Tilton, should leave because he bought some fuel hedges and United lost money on them. This is outrageous, says the union, because Tilton used to be at Chevron Texaco. “How is it that an oil man such as Glenn Tilton can’t figure out how to stem losses


from hedging jet fuel?” asked Captain Steve Wallach, chairman of the United Chapter of the Air Line Pilots Association. “This latest reported loss is a real head-scratcher. It took him too long to realize the value of hedging, and then he entered the market too late,” says Wallach. For the first time in a (very) long time, we feel some sympathy for Glenn, mostly because for once it’s not his fault.

For the first time in a (very) long time, we feel some sympathy for Glenn, mostly because for once it’s not his fault. When it was in reorganization, United couldn’t enter into any hedging contracts, because you can’t when you’re in Chapter 11. And when it came out, it was a little bit hard to shift to a hedging strategy, which had been a long time Southwest strategy. (And look where it got Southwest!) If we were the pilots – and thank goodness we’re not – we might point out that the airline lost $252 million on its operations. This is not good, but as Merrill Lynch airline guy Mike Linenberg points out, it ain’t that bad. In fact, it’s a good bit better than most people had expected, he says.

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3 Responses to Blaming the boss at UAL

  1. farzad March 16, 2009 at 9:54 pm #

    Hello:i am writing this letter to whom in charge for my claim against continantal airline,i bought 2 bottle of tequila in cancun transit airport and i took it in the airoplane, when i reach in Newark airport transit for going to Ottawa they didn’t let me take it to the airplane and they stop me in check point and they ask me you must go to continental desk and pay for it other wise leave it in the airport ,i went there and i paid $25+10=35 usd and they put it in the box and they told me you can claim in the Ottawa airport ,when i came to ottawa the box did not come and i fill out the paper and cameback to my home and waiting for my box actually they contact me early morning 6:00 am and they wake me up for box and my home address so after few hours they brought my box with broken bottle and smelly tequilla box with plastic bag,i contact every where just 3 hours they passed me to each other,right now please search about this inconvenience for your good costomers and please let me know.this event was march 13 ’2009 with flight #co 2759 from Newark to Ottawa with RFC LOC DR42Z9 my first name is farzad my last name is hedayati with yowco 16869

  2. NIEL November 6, 2010 at 8:25 am #

    Pretty useful article.

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